Reliance Industries Ltd’s shares have gained 52% in the last 52 weeks, giving huge jackpot to the investors in the heavyweight blue-chip company, helped by its investments in telecom, petrochemicals and retail businesses bearing fruit.
The shares of Mukesh Ambani-led Reliance Industries have seen a massive gain over the last one year, rising as much as 52.45% during the period to Rs1,531.05 as at Friday’s close.
Reliance Industries recently surpassed the Tata Group cash cow Tata Consultancy Services to become India’s most valuable company, with its market capitalisation topping Rs 5,00,000 crore today — Monday, July 17.
Jio’s rapid rise
RIL shares saw a massive jump in late February on the prospects of fresh cash flows from the company’s telecom business, when Mukesh Ambani announced that Reliance Jio has acquired over a 100 million subscribers in just less than six months of the launch of services, and said that the company would start paid services in April.
Shares saw another surge in late March as the date of the start of paid services on Jio network drew closer.
The rise in Reliance Industries’ shares is also reflecting the growth and monetisation of its assets in its traditional businesses, including petrochemicals and oil & gas. In June, RIL successfully commissioned the third and last crystallisation train (Train 3) of its Para-xylene unit at its Jamnagar complex, doubling the company’s PX processing capacity.