Mukesh Ambani led RIL wins back the title of India’s most valued firm

Aug. 23, 2011 - PRLog -- After commanding a market value higher than any other listed company on Bombay Stock Exchange (BSE), Mukesh Ambani led Reliance Industries Limited (RIL) has regained its lost standing as India’s most valued company after pushing the short term title holder Coal India Limited back to second position. RIL commanded a market value of Rs. 2, 46,995 crore at 09: 45 hours on the BSE starting this week, a value higher than any other company, while Coal Indian Limited rested at Rs. 2, 44,190 crore during the same time.  

Reliance Industries has been the defending champion of the title of India’s most valued firm for a straight four years. Coal India Limited (CIL) and ONGC had been closing down on RIL in terms of market valuation for the past few weeks as RIL stocks were under a lot of pressure and given the two PSUs had been performing well even during the draught spell that hit the markets earlier this month. Following this, RIL slipped to a close second position behind Coal India Limited earlier last week. Reliance almost slipped another level, closing behind ONCG but, nevertheless, it managed to regain the second slot by the time the markets closed last week. However, Coal India’s victory was equally short lived as Reliance Industries regained the top slot early this morning. Trade analysts are now eyeing this bump up closely to ascertain the longevity of the status-quo.

Mukesh Ambani led Reliance Industries is back on an optimistic roll as the company has won its namesake title back. It had acquired this title in the first place by routing ONGC to second position four years ago, and since then, it had maintained the calling exceedingly over the years.  Boosting the company’s moral once again, Reliance will be seen tuning up its processes to retain the calling of India’s most valued and biggest private sector firm.