Reliance Crossed 6 Trillion Market Capitalization
About Reliance Industries Limited(RIL) is an Indian conglomerate holding company headquartered in Mumbai, Maharashtra, India. Reliance is multinational company work in India and also work in overseas.
Reliance is the most profitable company in India with a market capitalization reach over 6 Trillion Rupees and the second largest company for producing petrochemical products. Reliance Industries is globally in Top 106 on rank around the world and TOP 2 in India and Top Fortune list. Globally 203 Ranked in Fortune Top 500 .
Reliance Industries Engaged in exploration and production of oil and gas, petroleum refined products, retail and special economic zones. The company also markets petrochemical, polyester, fiber intermediates, and telecommunications. The major business of reliance on petrochemical. In 2016 reliance come with new product jio and enter the telecommunications sector now this time all companies are fighting with Mukesh Ambani owned jio in tariff war .
Mukesh Ambani led Reliance Industries Ltd (RIL) become the first Indian company who reached yet another milestone cross Rs 6 Trillion Market Capitalization after it Shares Surged over 75% so far this year and hit a fresh lifetime high. RIL become the first company that crosses a market capitalization of RS 6.02 Trillion.
Over a two fold rise in share price since November 9 last year after successful launched of JIO and entering the telecommunications sectors Reliance get more subscribers for their 4G arm .
After Jio Started Charging to the subscribers it revenue goes up and jio should be able to maintain the revenue growth in the coming quarter while reduction in IUC(Inter-Connection Usage Charges) will help in keeping cost under control.
Jio is successful and growing in confidence with its network growth and quality improved day by day. Reliance Jio will install up to 1,00,000 towers in this year to provide quality voice and data services to their subscribers. Currently in many cities jio speed not so good and many call drop during call .
Analysts believe that tariff hike is positive for rivals like Bharti, Vodafone, and Idea as they may be able to raise prices as well which may help reduce profit. The Indian telecom industry is under pressure due to huge competition after Reliance Jio’s entry into the market.