Reliance Industries at 7 lakh crore mcap: A look at Mukesh Ambani-led

Reliance Industries on Thursday to the US $ 100-billion market capitalization for the first time in the last 10 years.

Billionaire Mukesh Ambani-led Reliance Industries has yet another feat by topping the Rs 7 lakh crore mcap. The market valuation of Reliance Industries on Friday surged past Rs 7 lakh crore mark in the morning trade, making it the second company after TCS to achieve this milestone. RIL's market capitalization (m-cap) has risen to Rs 7,01,404 crore (over USD 102 billion) during the early trade on BSE. The m-cap has been calculated at the stock's 52-week high price of Rs 1,107.25. Reliance Industries on Thursday traded the USD 100-billion market capitalization 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.

Interestingly, 2017 alone RIL has added more than Rs 2 lakh crore to its market capitalization. On February 27th last year, RIL crossed the 4 lakh crore market capitalization.

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

While the share prices have peaked, and trade at fresh all-time high levels on Friday, Ambani recently observed its journey. "It's a matter of great pride for me that, since Reliance's IPO in 1977," said Mukesh Ambani said at the event.

At International Advertising Association's (IAA) Leadership Awards held in October-17, Mukesh Ambani shared his insights on the company's rise, "Full Reliance 40 Years of Being a Public Company. I have been fortunate to be part of the journey from one year. I still remember that when I started off, I was a student of chemical engineering. At that time Reliance was less than $ 5 million in enterprise value. And in 40 years within India, as an Indian company, we are now over 250 billion dollar in enterprise value. That has been a phenomenal journey, "Mukesh Ambani said.

Interestingly, the recent rally in Mukesh Ambani to come out as Asia's richest man. Thew net worth of Mukesh Ambani – who holds 44.5 percent stake in the company has soared to $ 44.3 billion, according to the Bloomberg Billionaires Index. Jack Ma's wealth is at $ 44 billion at the close of trade on Thursday in the US, where the company is listed.