RIL Market Value Tops Rs 11 lakh Crore On Becoming Debt Free

Shares of Reliance Industries surged as much as 8 per cent to hit fresh record high Rs 1,788.60 on the BSE after the company become net debt free. Reliance Industries,the most valuable company of the country, topped Rs 11 lakh crore in market capitalisation. Reliance Industries said it has raised more than Rs  1,68,818 crore in its digital services arm and Rs 53,124.20 crore through the issue of right. With these investment, yhe group said it has become net debt-free. Its net-debt had stood at Rs 1,61,035 crore as of March 31,2020 

With today's spike in Reliance industries shares, investors' wealth in Reliance industries rose by Rs 84,000

crore  and Reliance Industries contributed over 100 points towards gain in the Sensex 

Reliance Industries is now "in its golden decade ", said billionaire Mukesh Ambani and his group became 

net debt-free, much ahead of its original goal of achieving the status by the end of March 2021  

I have fullfilled my promise to the shareholder by making Reliance net debt-free much before our original schedule of 31st March 2021," Mukesh Ambani said in a statement released early on Friday 

Earlier this month, Reliance Industries' right issues was subscribed 1.59 times, which the company said was "not only the largest ever in the last ten years".

Reliance Industries sold a total 24.70 per cent stake in jio platform in 11 deals  for Rs 1,15,693,95 crore with in nine weeks starting April 22.

As of 3:10 pm, Reliance Industries shares were up 6.5 per cent as Rs 1,766, sharply outperforming the Sensex which was up 1.5 per cent