Reliance Overtake Tata Group as India’s Most Valuable Conglomerate
\n\nJio Platforms’ strong stock market debut on Wednesday helped the Reliance Group overtake the Tata Group to become India’s most valuable conglomerate by market capitalisation. The listing of Jio Platforms added to the combined market value of Reliance Industries and its group companies, pushing the conglomerate ahead of the Tata Group in the market-capitalisation rankings.
\n\nThe combined market value of the Reliance Group crossed Rs 30 lakh crore, surpassing the Tata Group's Rs 25 lakh crore, according to data compiled by Bloomberg News.
\n\nJio Platforms shares extended their gains on debut day, rising nearly 27 percent over the issue price and taking the company's market capitalisation past Rs 13 lakh crore.
\n\nFurther, Jio Platforms overtake Bharti Airtel to become India's most valuable telecom company by market capitalisation. It secured the second position among India's listed companies by market value, behind its parent Reliance Industries.
\n\nJio Platforms' market capitalisation rose by Rs 52,031.02 crore from Rs 12,50,586.39 crore to Rs 13,02,617.41 crore on its debut day itself.
\n\nJio Platforms made an impressive debut on the stock exchanges on Wednesday, with its shares opening at Rs 1,358 apiece on the BSE and NSE…
Original source: https://www.timesnownews.com/business-economy
