Reliance soars to $200 billion market cap

Since the lockdown started, Reliance Industries has seen its market cap double from $100 billion to $200 billion, as investors have priced in its telecom and retail business separately. It also announced the separation of its oil to chemicals business into a subsidiary. (The first time the company hit the $100 billion mark was in October 2007 when the rupee was at 39.5 to the dollar.)

In 2020, its stock has had a dream run, with Rs152,056 crore raised by Jio Platforms. On September 9, Reliance Retail announced a Rs7,500 crore investment by Silver Lake Partners for a 1.75 percent stake valuing the business at 4.21 lakh crore.

On September 10 came news that Reliance Retail may do a $20 billion deal with Amazon for a stake sale in its retail business, sending the share prices up 7.1 percent to Rs2,314 per share, and taking its market cap past the $200 billion mark.

Graphic: Sameer Pawar

Disclaimer: Reliance Industries is the owner of Network 18, the publisher of Forbes India