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Reliance Industries, led by the billionaire Mukesh Ambani, has experienced a remarkable surge in its market valuation, gaining a staggering Rs 53,652.92 crore in just five days. This surge was driven by a significant increase in the company's share price, which rose by Rs 59.05 to reach Rs 3,047.05. This impressive performance propelled Reliance to the top spot among India's most valued firms, solidifying its position as a dominant force in the Indian market.
The rise in Reliance's share price was directly reflected in its market valuation. From September 23 to 27, the company's market valuation jumped from Rs 20,11,544.68 crore to Rs 20,65,197.60 crore, showcasing the remarkable financial strength and investor confidence in the company. This surge was particularly notable as it outpaced the gains of other top firms, making Reliance the biggest gainer among India's top 10 most-valued companies.
The overall market sentiment was positive during this period, with the benchmark BSE Sensex hitting a record high of 85,978.25 on Friday. This positive market trend contributed to the gains of several top firms, including Reliance. However, Reliance's impressive growth was particularly noteworthy, exceeding the gains of its peers and cementing its position as a market leader.
Beyond the recent surge, Reliance Industries has consistently maintained a strong market presence, holding a market cap of Rs 20.62 lakh crore as of September 29. The company's diversified portfolio, spanning industries like energy, retail, telecommunications, and media, has played a significant role in its continued success. Notably, the recent approval by the Ministry of Information and Broadcasting for the transfer of non-news and current affairs TV channels from Reliance Industries' media entities to Star India highlights the company's strategic expansion in the media sector.
Source: Mukesh Ambani's Reliance earns Rs 53652 crore in just 5 days, becomes biggest...