Invesco, Investment management company

Reliance Industries Limited (RIL) has become the first Indian company to enter the exclusive club of $150 billion in market capitalisation among the worlds most valuable companies, and is now ranked 58 on the list.RIL now has a market capitalisation of $151.2 billion and this is the highest ever valuation of an Indian company.The major milestone comes on a day when RIL announced it has become a net debt-free company. Shares of Reliance Industries continued its bull run on Friday afternoon to cross the Rs 1,700-mark for the first time. The stock hit a fresh all-time high of Rs 1,706.55 and its market capitalisation crossed Rs 10.81 lakh crore.In the exclusive club of $150 billion mcap companies, RIL is now ahead of global leaders like Vanguard, Unilever, China Mobile, McDonalds, AstraZeneca, T Mobile, Amgen, Costco, Bank of China, Sanofi, Accenture, Royal Dutch Shell, Bristol Myer Squibb, Philip Morris, BHP group, Texas Instruments, Invesco, American Tower, Wells Fargo, Citigroup and IBM, among others.The list of the world's most valuable companies is topped by Saudi Aramco with a market capitalisation of $1.7 trillion, followed by Apple at $1.5 trillion, Microsoft at $1.4 trillion and Amazon at $1.3 trillion. These four companies are in the trillion dollar club.They are followed in the top 10 by Alphabet, Facebook, Alibaba, Tencent, Berkshire Hathway and Johnson & Johnson.Shares of oil-to-telecom major RIL surged after the company on Friday morning announced that it has become a net debt-free company on the back of the recent investments by global investors into Jio Platforms and the rights issue.RIL has raised over Rs 1.68 lakh crore in just 58 days. Its net-debt stood at Rs 1.61 lakh crore as on March 31, 2020.In a statement, RIL Chairman Mukesh Ambani said: "I have fulfilled my promise to the shareholders by making Reliance net debt-free much before our original schedule of March 31, 2021. Over the past few weeks, we have been overwhelmed by the phenomenal interest of the global financial investor community in partnering with Jio."( With inputs from IANS )

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Lok Sabha Election 2024

Heatwave In India

Mumbai Water Cut

Maharashtra Lok Sabha Election

IPL 2024

Salman Khan

InvescoFOLLOW

Invesco, Latest News

National :Regret being drawn into dispute between Zee and Invesco, reports in media not accurate: RIL

Reliance Industries Limited has said that it regrets being drawn into the dispute between Zee and Invesco and reports in the media are not accurate. ...

International :Zee's Goenka questions Invesco's credentials citing earlier merger proposal

Mumbai, Oct. Oct 12 The ongoing boardroom battle between Zee Entertainment Enterprises Ltd (ZEEL) and Invesco over convening ... ...

National :Requisition illegal, can't convene EGM: Zee Entertainment to Invesco

Zee Entertainment Enterprises Ltd (ZEEL) on Friday conveyed its inability to convene an Extraordinary General Meeting (EGM) to Invesco stating that the requisition notice is "invalid and illegal". ...

National :Invesco's step is premature, will act in interest of shareholders and as per law: Zee

Zee Entertainment Enterprises Ltd (ZEEL) on Thursday said that Invesco's step is premature and it will act in the interest of shareholders and as per the law. ...

International :Activism by Zee's largest shareholder may lead to change in management

New Delhi, Sep 14 Invesco's move to seek an Extraordinary General Meeting of Zee Entertainment Enterprises to remove ... ...

Business :RIL enters $ 150b club, highest mcap by an Indian company

Reliance Industries Limited (RIL) has become the first Indian company to enter the exclusive club of $150 billion in ... ...