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Reliance Industries Ltd (RIL), India’s largest conglomerate, recently made its way into the ranks of the world’s 25 most valuable companies by net worth, joining the likes of Microsoft, Alphabet, and Saudi Aramco.

The oil-retail-to-telecom major now holds the 21st spot globally with a net worth of $118 billion (Rs 10 lakh crore), just behind global majors such as Alibaba, AT&T, and TotalEnergies, according to Bloomberg data.

RIL’s market capitalisation now stands at approximately $140 billion, more than Total SA and significantly exceeding BP Plc. RIL’s market cap is now roughly equal to the combined value of 19 Nifty 50 companies, 35 public sector units and banks, or all firms listed on the Nifty Smallcap 250 index.

On Friday, Reliance Industries Ltd’s board approved a fundraising plan of up to Rs 25,000 crore through bonds in one or more tranches. The board also declared a dividend of Rs 5.5 per share for its shareholders.

Ahead of the quarterly earnings announcement, Reliance shares ended the day flat at Rs 1,300.40 on the NSE. Despite the muted session, the stock has delivered a strong 7 percent gain so far in 2025, significantly outperforming the Nifty50 benchmark, which has posted less than 2 percent returns year-to-date.

The company’s stock has been on a stellar run, gaining 10 percent over the past month, 24 percent in the last three months, and 40 percent over the past year, making it one of the top performers among Nifty’s top 10 constituents.

Key drivers behind the stock’s recent rally include its strategic debt-reduction efforts, a likely hike in telecom tariffs, and a sharpened focus on scaling its consumer businesses - Reliance Jio and Reliance Retail.

Disclaimer: Reliance Industries Ltd, which owns Jio, is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

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