Mukesh Ambani often makes headlines due to his Reliance Industries business. The 67-year-old billionaire has a net worth of Rs 1002111 crore, as per Forbes. Last week, Reliance earned Rs 53,652.92 crore in just five days after the company's share rose by Rs 59.05 to Rs 3,047.05. The market valuation of Reliance jumped Rs 53,652.92 crore to Rs 20,65,197.60 crore from September 23 to 27. It became the biggest gainer among India's top 10 most-valued firms. The combined market valuation of eight of such firms surged Rs 1,21,270.83 crore last week in line with an outstanding rally in benchmark equity indices.
Last week, the BSE benchmark jumped 1,027.54 points or 1.21 per cent. The BSE Sensex hit its record high of 85,978.25 on Friday. In the chart of the most valued firms, Reliance Industries retained the highest ranking, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, Hindustan Unilever, ITC and LIC.
READ | Good news for Anil Ambani, Reliance Infra wins Rs 7800000000 arbitration case against...
Reliance has a market cap of Rs 20.62 lakh crore, as of September 29. Moreover, the Centre has approved the transfer of licence relating to non-news and current affairs TV channels held by the media entities of Ambani-led Reliance Industries to Star India. Viacom18 is the holding company that owns the media and entertainment business of Reliance Industries and Bodhi Tree Systems.
According to regulatory filings by Reliance Industries and TV18 Broadcast, the Ministry of Information and Broadcasting granted the approval in an order dated September 27. The merger of the media assets of Reliance Industries and The Walt Disney Co. Will create the country's largest media empire worth over Rs 70,000 crore.
(With inputs from PTI)
