InvestorQ : How does RIL look now that it has once again crossed Rs.10 trillion in market cap?
Deepa Salunkhe made post

How does RIL look now that it has once again crossed Rs.10 trillion in market cap?

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Juvina Maggie answered.
1 year ago
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Reliance Industries rose 3.40% on 11 May and even briefly touched its all time high level. But, more importantly, it claimed the Rs.10 trillion market level once again. Last week, the company set May 14 as the record date for the Rs.53,100 crore rights issue in the ratio of 1:15. The rights were priced at Rs.1257 per share. Markets have been extremely impressed by the long term plan of the group to become zero on net debt. In the meanwhile, the stake sale in Jio Platforms to marquee investors like Facebook, Silver Lake, Vista Equity etc has also gone down well with the investors. It may be recollected that after the Facebook and Silver Lake stake buy in Jio Platforms, there was another deal last week to sell 2.23% in Jio Platforms to Vista Partners for $1.5 billion. This takes the total equity flow into JPL to $7.95 billion for a total equity sale of 13.45%. As of March 2020, RIL had outstanding debt of Rs.336,294 crore. It also had cash in hand of Rs.175,259 crore; bringing the net debt position to Rs.161,035 crore. It is this net debt position that RIL is targeting to make zero by March 2021.

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