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RIL Becomes Net Debt Free, Shares Soar 2%, Valuation Up By Rs 16,346 Cr

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RIL Becomes Net Debt Free, Shares Soar 2%, Valuation Up By Rs 16,346 Cr
PTI - 19 June 2020

New Delhi, June 19: Shares of Reliance Industries on Friday jumped 2 percent after Mukesh Ambani announced that his oil-to-telecom conglomerate had become net debt-free.

The heavyweight stock rose 1.97 per cent to Rs 1,689 -- it's all-time high -- on the BSE.

On the NSE, it surged 1.99 per cent to its record peak of Rs 1,688.95.

With this, the company's market valuation rose by Rs 16,346.65 crore to reach Rs 10,66,034.08 crore in morning trade on the BSE.

Earlier in the day, Ambani announced that Reliance Industries had become net debt-free after raising a record Rs 1.69 lakh crore from global investors and a rights issue in under two months.

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