Reliance Industries chairman Mukesh Ambani is the richest man in India and Asia. According to Forbes, his real-time net worth is USD 105.1 billion. His Reliance has interests in petrochemicals, oil and gas, telecom, retail and others. The company remains the most valuable firm in the country. During the festive season last week, it earned Rs 15,393.45 crore in the share market after its shares surged. Its market cap soared to Rs 18,12,120.05 crore.
His three children joined the board of Reliance in 2023. Son Akash Ambani heads Jio, daughter Isha Ambani oversees retail and financial services; and younger son Anant Ambani is in the energy business. Reliance's telecom and broadband service Jio has around 490 million subscribers. In July 2023, the company listed its finance arm, Jio Financial Services.
Besides Reliance Industries, ICICI Bank, State Bank of India (SBI), ITC, Hindustan Unilever, and Life Insurance Corporation of India (LIC) were the gainers last week. The combined market valuation of six of the top-10 most-valued firms surged Rs 1,07,366.05 crore last week, with SBI and ICICI Bank becoming the biggest gainers.
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Leading stock exchanges BSE and NSE conducted a one-hour special 'Muhurat Trading' session on the occasion of Diwali on November 1, marking the start of the new Samvat 2081. Last week, the BSE benchmark climbed 321.83 points, or 0.40 per cent.
(With inputs from PTI)
