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Mukesh Ambani’s Reliance stock reclaims highest weightage in Nifty after 6 years; can you guess top 5?

Shares of billionaire Mukesh Ambani-led Reliance Industries achieved another feat on Thursday, after RIL became the firm with highest weightage in Nifty after 6 years. We take a closer look.

Mukesh Ambani’s Reliance stock reclaims highest weightage in Nifty after 6 years; can you guess top 5?

Shares of billionaire Mukesh Ambani-led Reliance Industries achieved another feat on Thursday, after RIL became the firm with highest weightage in Nifty after 6 years. Reliance Industries shares command a weightage of 9.23% on the Nifty 50 followed by IT firm TCS, having a weightage of 9.21% in the index. The other major heavyweights include HDFC Bank at 6.81%, HUL with a weightage of 4.55% and ITC at 4.52%.

Interestingly, with a market cap of a whopping 7.66 lakh crore, RIL also holds the distinction of being india’s most valued company. In July this year, Reliance Industries reclaimed the top spot to become India’s most valued company by market capitalization as the shares surged to record high levels, extending gains following strong Q1 results. Reliance Industries shares were trading flat at Rs 1,209.25 this morning. RIL shares have returned a whopping 58% in the last one year period, adding Rs 2.8 lakh crore in mcap. In comparison, the Nifty 50 has gained about 17% in the past one-year period.

The year has been significant for RIL, as the firm topped the rs 7 lakh crore mcap, and also reclaimed the tag of bing a $100 billion firm. In mid-July Reliance Industries crossed the USD 100-billion market capitalisation mark for the first time in the last 10 years. Notably, the centibillionaire firm had earlier breached this mark in intra-day trade on October 18, 2007. The US dollar was quoted at Rs 39.59 at that time. The market valuation of RIL had crossed the Rs 6 lakh crore mark in November last year.

Noting the rise of the company Mukesh Ambani said recently that the company started with a meagre Rs 1,000 and a single employee, more than half a century ago. “My father founded Reliance in 1966 with one just employee and with a meagre capital of only Rs 1000, or about USD 130 at that time. Even then, his dream was to build Reliance as a world-class and world-scale Indian business conglomerate. He realised his dream in his own lifetime,” Mukesh Ambani said at Financial Times ArcelorMittal Boldness in Business Awards in March this year.

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First published on: 16-08-2018 at 13:29 IST
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