Shares of Reliance Industries Ltd. (RIL) gained about 4.10% intra-day on Wednesday to touch its 52-week high of ₹1,571.85 in a firm Mumbai market on November 20, valuing the company at ₹9.96 lakh crore and making its chairman the 12 richest in world with wealth of $58 billion, the richest Asian.
RIL shares rose 2.47% to close at ₹1,547 in a firm Mumbai market on November 20, valuing the company at ₹9.81 lakh crore, or ₹19,300 crore away to touch the market capitalisation of ₹10 lakh crore.
Mukesh Ambani is the richest Asian, overtaking Jack Ma of Alibaba Group, according to Bloomberg’s billionaires index. He is also richer than Carlos Slim and Steve Ballmer with personal wealth of $57.7 billion and $55.5 billion respectively.
On a year-to-date basis, Mr. Mukesh Ambani’s wealth increased by 30.8%, or $13.70 billion, to $58 billion.
RIL’s market capitalisation has already overtaken the market capitalisation of BP Plc. to enter the club of six elite global oil majors led by ExxonMobil with market capitalisation of about $290 billion. Saudi Aramco’s listing is expected to make it the most-valued oil firm market capitalisation of about $1.7 trillion.
RIL shares surged on Wednesday after the company’s telco arm Reliance Jio on Tuesday said that it will increase mobile phone call and data charges in the next few weeks in compliance with rules, as it followed similar announcements by Bharti Airtel and Vodafone Idea on tariff hike.
Reliance Industries had hit the ₹9 lakh crore market-cap milestone as recently as October.
