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Rerating Candidate! RIL Becomes 1st Indian Company To Hit M-Cap Of $150 Billion

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Rerating Candidate! RIL Becomes 1st Indian Company To Hit M-Cap Of 0 Billion

Reliance Industries (RIL) Market Capitalisation Skyrocketed To $150 Billion In Intraday Trade On June 22, The First Indian Company To Achieve The Feat.

The Stock, Which Hit A Fresh Record High Of Rs 1804.10 On The BSE On Monday, Has More Than Doubled Investors’ Wealth Since Hitting A Low On March 24.

The Scrip Has Gained  20 Percent So Far In 2020.

At 10:00 Am, RIL Was Trading 1.69 Percent Higher At Rs 1,789.

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The Rally Seen In RIL Was Swift And Largely Backed By The Deals Which Helped The Mukesh Ambani-Led Company Become Debt-Free Company Well Ahead Of Its Target Of March 2021.

Also Read: What Makes Centre-State Relations Different In National Capital?

The Cumulative Investment Resulting From 11 Deals Struck By Reliance Industries For Its Digital Unit, Jio Platforms, Over The Past Nine Weeks Amounts To Rs 115,693.95 Crore.

The Recent RIL Rights Issue Garnered Rs 53,124.20 Crore. Together With Jio Investments, RIL Managed To Raise Rs 1.68 Lakh Crore To Become Net Debt-Free.

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“Within The Short Period Of About 59 Sessions, RIL Had Doubled The Wealth Of The Shareholders Especially During The Time Of The Pandemic. RIL Has Become India’s First $150 Billion Company. In Indian Currency, The Valuation Is More Than Rs 11 Lakh Crores,” Gaurav Garg, Head Of Research At Capitalvia Global Research Limited- Investment Advisor Told Moneycontrol.

Experts Are Of The View That RIL Turning Debt-Free And The Potential Listing Of Jio And Retail Arm Of The Conglomerate Is Likely To Result In A Rerating Of The Stock In The Near Term.

Also Read: A ‘500 Years Old’ Temple, Submerged In The Mahanadi In Odisha, Is 60 Feet In Height.

Not Only Does This Reaffirm Jio’s Potential Transformation As A Technology Giant In The Eyes Of Global Investors, But Also Helped In RIL’s Goal Of Reaching Its Net-Zero Debt Goal At A Faster Clip.

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Jio’s Dominant Position Should Allow It To Garner Strong Consistent Growth Over The Long Term. We Are Positive On Jio’s Multiple Monetisation Avenues Coming From Increasing Long-Term Arpus And Other Digital Applications With The Facebook Deal.

Fundamentally, The Fundraising Warrants For Rerating Of The Stock As Unlocking Of Value By Listing Reliance Jio And Retail Will Create Wealth For Its Shareholders From A 3 To 5-Year Perspective. However, The Current 94 Percent Rally In The Past 3 Months Is Unsustainable As The Human Mind Can Easily Extrapolate But Markets Act Differently All The Time.

Investors Think Stock Prices Will Move In A Straight Line But Realistically It Has Its Own Ups And Downs. And A Realistic Growth Path For Reliance Although Is Higher In The Long Term But In The Short, To Medium Term It Will Largely Underperform And Disappoint Investors Who Invest At Higher Levels.

News Source: BussinessToday

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Also Read: Actor Sushant Singh Rajput Committed Suicide At His Home In Bandra

Haryana

Delhi Weather and AQI Today: Warm start at 22.05 °C, check weather forecast for October 22, 2024

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Delhi Weather and AQI Today: Warm start at 22.05 °C, check weather forecast for October 22, 2024

Check the weather forecast and air quality updates for Delhi on October 22, 2024 here.

The temperature in Delhi today, on October 22, 2024, is 32.93 °C. The day’s forecast indicates a minimum and maximum temperature of 22.05 °C and 35.04 °C, respectively. The relative humidity is 26% and the wind speed is 26 km/h. The sun rose at 06:26 AM and will set at 05:44 PM.

Tomorrow, on Wednesday, October 23, 2024, Delhi is predicted to experience a minimum and maximum temperature of 27.42 °C and 34.91 °C, respectively. Tomorrow humidity levels will be at 20%.

With temperatures ranging between 22.05 °C and 35.04 °C, prepare for a hot day and plan outdoor activities accordingly. If you are sensitive to heat, take note of the weather forecast and consider appropriate attire and activities suitable for the prevailing weather.

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The AQI in Delhi today stands at 334.0, falling in the very poor category. Everyone should be cautious. Children and people with respiratory diseases, such as asthma, should stay indoors and others should also limit their outdoor activities. Usage of masks and air purifying devices is advised. Being aware of the AQI helps one make informed decisions regarding one’s overall well-being while planning the day’s activities.

Weather and AQI predictions in Delhi for next 7 days:

DateTemperatureSky
October 23, 202432.93 °CSky is clear
October 24, 202432.69 °CSky is clear
October 25, 202432.5 °CSky is clear
October 26, 202432.07 °CSky is clear
October 27, 202430.69 °CSky is clear
October 28, 202431.29 °CSky is clear
October 29, 202432.09 °CSky is clear

Weather in other cities on October 22, 2024

CityTemperatureSky
Mumbai28.35 °CLight rain
Kolkata28.84 °CSky is clear
Chennai28.94 °CLight rain
Bengaluru25.53 °CModerate rain
Hyderabad27.75 °CModerate rain
Ahmedabad31.9 °CSky is clear
Delhi32.93 °CSky is clear

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