During the annual general meeting (AGM) of Reliance Industries Limited (RIL), Mukesh Ambani made an ambitious proclamation that has left both shareholders and the nation intrigued. According to Ambani, in the coming years, Reliance aims to be among the world’s top 30 companies.
Reliance: A Market Leader
As things stand, Reliance Industries is the largest company in India, boasting a market capitalization exceeding ₹20 lakh crore. No other company currently comes close to this level; for instance, Tata Consultancy Services (TCS), India’s second-largest firm, has not yet surpassed a market cap of ₹17 lakh crore. This gap showcases the vast influence and scale of Reliance in the Indian economy.
A Bold Vision for the Future
At the AGM, Ambani articulated his vision by stating, “Our future is significantly brighter than our past.” He highlighted that it took Reliance more than two decades to become one of the top 500 companies globally. However, he expressed optimism that, within the next two decades, Reliance could enter the league of the world’s top 50 most valuable firms. He emphasized that with the strategic alignment of deep tech and advanced manufacturing, he envisions Reliance emerging among the top 30 companies globally.
Current Global Standing
With a market cap of approximately ₹21 lakh crore, RIL currently holds the title of India’s most valuable listed company. On a global scale, it is ranked as the 45th largest company in the world. In terms of US dollars, Reliance’s market capitalization is nearing the impressive figure of $250 billion. Comparatively, TCS, with a market capitalization of around ₹17 lakh crore, is still far behind Reliance in terms of value.
Exciting Shareholder Benefits
Just before his speech at the AGM, Ambani thrilled shareholders by announcing that the RIL board is considering issuing bonus shares in a 1:1 ratio. This news prompted a surge in the company’s share price, climbing by over 2.5%, hitting a day-high of ₹3,074. Following this announcement, Reliance’s market capitalization saw an astounding increase of ₹53,000 crore in just one day.
Conclusion
Mukesh Ambani’s declarations at the AGM not only reflect his ambitious vision for Reliance Industries but also underline the strong foundation upon which the company stands. With strategic initiatives aimed at technological advancements, Reliance appears poised for remarkable growth, making it a company to watch in the coming years.
