In the year 2007, India saw its first $100 billion company, however since then a lot has changed and much competition entered the market. We are talking about Mukesh Ambani-backed Reliance Industries which was the first company to ever earmark $100 billion crore market valuation in the country. However, the company could not retain the mark for long. That year marked new history being created in India Inc, but till recently the same moment could not be repeated by this Mumbai-based firm. RIL became the  first $100 billion company on October 18, 2007.

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Today, RIL has gone one better. Its stock touched a fresh high of Rs 1,190 crore before ending at Rs 1,185.85 per piece, up by Rs 36.15 or 3.14% on BSE. However, there really was not much reason as to why RIL’s share price grew to such extend. 

But what is important is that RIL has once again bagged the spot of most valued company in India, by surpassing IT-giant and Tata Group-led Tata Consultancy Services (TCS)! 

The market capitalisation of RIL today stands at Rs 7,51,414.89 crore which would be India's first highly valued company, outrunning TCS whose market valuation was at Rs 7,43,222.16 crore. 

After RIL in 2007, it was TCS that bagged the tagline of $100 billion company in India this year. 

The latest thing that took place in RIL was its financial performance for June 2018 quarter, where the company posted 17.9%  jump in its June quarter consolidated net profit at Rs 9,459 crore, on the back of robust petrochemical margins and strong performance of its telecom arm Reliance Jio. 

Guess what! RIL is seen to go even higher than today’s current status, as analysts have raised their target on the company’s share price. 

In Morgan Stanley’s view, subscriber additions, high data usage,and customer mix drove better than expected revenue growth of 14% QoQ as ARPU remained largely stable. Hence it raised ARPU estimates 5-13% through F21, however, it added that higher capex negates the NAV upside. 

Analysts at Morgan said, “The transition in profitability to a new norm was well evident in the earnings – most businesses showed good step-ups in margins. Cash burn in telecom remains a challenge, but we still expect ROCE to rise 150bps p.a. steadily until F21. Maintain OW.”

While Edelweiss Financial Services said, “With commissioning of mega core projects, we expect FCF to turnaround, RoE to rise and profit to double in 4 years. Successful execution of RJIO bolsters our confidence in the mega venture. At CMP, the stock trades at an undemanding 12x FY20E PER. We reiterate ‘BUY/SO’ with revised TP of INR1,457 (INR1,201earlier) amongst highest on the street.”

For now, though Mukesh Ambani stands at 14th place in Billionaires list across the world as there has been a drastic change in his net worth, which can be attributed to RIL’s performance. As on July 31, Ambani’s net worth stood at %45.9 billion with addition of $5.64 billion so far this year and last addition was of $723 million.