Reliance Group beats Tata to become biggest conglomerate by market valuation after Jio Platforms' blockbuster debut
7 Articles
7 Articles
Jio listing propels Reliance past Tata Group as India's biggest conglomerate
The listing of Jio Platforms has significantly impacted India's corporate rankings, with Reliance Industries regaining the top position. Reliance's market capitalisation rose to approximately ₹30.26 lakh crore, overtaking the Tata Group. Jio's shares closed at ₹1,417.35, reflecting a 26.66% premium over the issue price. This transition highlights the challenges faced by other conglomerates, such as the Tata Group and Mahindra Group.
Reliance's firms hit $318 bn in combined m-cap after Jio debut; surpass Netflix, Toyota, SAP in value
The combined market value of 11 Reliance-linked listed firms reached an estimated Rs 30.25 lakh crore ($318 billion) after Jio's debut, placing the conglomerate in the league of global giants like Coca-Cola and P&G.
Reliance Group has become India's most valuable business group with the strong start of Jio Platforms in the stock market. Jio has surpassed the Tata Group and Bharti Airtel in the telecom sector in terms of market value. Jio, which was fully subscribed within 100 minutes of the IPO, has also entered the ranks of companies valued at $ 100 billion.
Jio changes market rankings: TCS moves out of top 5; Reliance Group the largest conglomerate
The listing of Reliance Jio Platforms in the stock market has changed the ranking of the most valuable companies in the country. The stock was listed at Rs 1358 against the issue price of Rs 1119. The market cap of the company reached about 12.5 lakh crore rupees and it came in second place. At the same time, TCS shares fell by 3.5%, leaving the company in the sixth position.
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