Reliance Industries among top 30 most valued companies: Mukesh

Mumbai: Asia’s richest billionaire Mukesh Ambani said on Thursday that his oil-to-telecom conglomerate- Reliance Industries Ltd (RIL) – will be among the world’s top 30 most valuable companies in the near future. At the end of Thursday’s trading session, Reliance had a market capitalisation of ₹ 20.58 lakh crore, the highest for any listed Indian company.

“Our future is far brighter than our past. For example, Reliance took over two decades to be amongst the Top 500 companies globally. The following two decades saw us joining the league of the world’s Top-50 most valuable companies. With our strategic adoption of Deep-Tech and Advance Manufacturing, I can clearly see Reliance earning a place in the Top-30 League in the near future,” said Ambani the company’s 47th annual general meeting (AGM).

Meanwhile, the Board of RIL will meet on September 5 to consider and approve a bonus issue in the ratio of 1:1.

“The Board of Directors is scheduled to be held September 5, 2024, to consider and recommend to the shareholders for their approval, issue of bonus shares in the ratio of 1:1 to the equity shareholders of the company by a capitalization of reserves,” the company said in a filing. Following the announcement, shares of RIL jumped over 2% in intraday trade on Thursday.