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The stock of <keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords">Reliance Industries</keyword> Ltd climbed nearly 3 per cent during the late afternoon trade on Thursday following the announcement that the company's board will consider issuing 1:1 bonus shares on September 5. Shares of the firm jumped 2.63 per cent to Rs 3,074.80 on the BSE as soon as the announcement came in. At the NSE, the bellwether stock climbed 2.58 per cent to Rs 3,074. The company's market valuation also surged Rs 42,399.24 crore to Rs 20,60,461.42 crore. <keyword id="10926" type="General" weightage="20" keywordseo="Reliance" source="Orion">Reliance</keyword>, the nation's most valuable company, had last issued bonus shares in September 2017. "A meeting of the Board of Directors of the company is scheduled to be held on Thursday, September 5, 2024, to consider and recommend to the shareholders for their approval, issue of bonus shares in the ratio of 1:1 to the equity shareholders of the company by capitalisation of reserves," the firm said in the stock exchange filing. Prior to the 1:1 bonus issue in 2017, Reliance had in 2009 issued 1:1 bonus share.

Reliance Industries valuation jumps by Rs 42,399 crore following 1:1 bonus shares consideration announcement

Foreign investors have withdrawn nearly Rs 20,000 crore from Indian stock markets in just five trading days (November 4–8), continuing a trend of large-scale selling that began last month. Experts say investors are now moving their money to China, largely due to the high valuations presently prevailing in Indian markets. In early November, FPIs have offloaded as much as Rs 19,994 crore in Indian markets. The month prior, i.e., October, was one of the worst months in terms of foreign outflows, with FPIs making a net withdrawal of Rs 94,017 crore. Before this, Indian markets faced such a situation during the pandemic, when FPIs withdrew Rs 61,973 crore from equities in March 2020. <h2>Why Are Investors Leaving? </h2>According to Himanshu Srivastava of Morningstar Investment Research India, two main factors are driving this exodus. First is China's renewed appeal due to lower stock valuations and new economic stimulus measures. In a bid to nudge the domestic economy and bail state governments, China recently approved a 10-trillion yuan (US $1.4 trillion) package. Per reports, approximately 60% of this stimulus focuses on allowing local governments to refinance the mountain of debt on them. Srivastava explains foreign investors are also flocking to US dollar and Treasury yields, which have appreciated significantly in the recent past, leading FPIs to anticipate a stronger US economy going ahead. Moreover, high valuations in Indian markets are discouraging foreign investors from putting more money in the economy. As a result, over the past week, the selling pressure eroded Rs 74,563 crore in market value for Reliance Industries, while Bharti Airtel and ICICI Bank lost Rs 26,274 crore and Rs 22,254 crore, respectively. The combined market valuation of six of the top 10 most-valued firms dipped by Rs 1,55,721.12 crore last week. <h2> Silver linings</h2>Despite the ongoing outflux of funds since last month, November also saw unprecedented applications of about 40–50 new FPI registrations, which are eyeing to enter the Indian market. This was due to markets SEBIs recent relaxation to NRIs, permitting them to participate up to 100% and announcing measures for ease of entry and operations in India. On the other hand, FPIs invested Rs 599 crore in the debt general limit and Rs 2,896 crore in the debt voluntary retention route (VRR) during the period under review. So far this year, FPIs have invested Rs 1.06 lakh crore in the debt market. <li class="whitespace-normal break-words"></li>Going ahead, investors will be looking for certain macroeconomic cues, which include corporate earnings reports, India's inflation (CPI) and industrial production (IIP) data on November 12, the US inflation report on November 13, and wholesale price index (WPI) data on November 14.

FPIs withdraw nearly Rs 20,000 crore from equities in the last 5 trading sessions, make a beeline for China and US

Reliance to Kotak – Top 10 companies by valuation in India, according to Hurun

New Delhi: Nine of the top-10 most valued firms together added Rs 2,01,552.69 crore in market valuation last week, with <keyword id="19951944" type="General" weightage="100" keywordseo="Bharti-Airtel" source="keywords" meta.keywordsubtype="org" meta.entityname="Bharti Airtel" meta.hostid="153" meta.entityid="Bharti Airtel">Bharti Airtel</keyword> stealing the show, amid bullish investors' sentiment in equities. Last week, the BSE benchmark jumped 1,707.01 points or 2.10 per cent. The 30-share BSE Sensex hit its lifetime high of 83,116.19 on Thursday. Bharti Airtel's valuation jumped Rs 54,282.62 crore to Rs 9,30,490.20 crore, becoming the biggest gainer among the top-10 firms. The market capitalisation (mcap) of <keyword id="19900482" type="General" weightage="20" keywordseo="ICICI-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="ICICI Bank" meta.hostid="153" meta.entityid="ICICI Bank">ICICI Bank</keyword> surged Rs 29,662.44 crore to Rs 8,80,867.09 crore. <keyword id="19950119" type="General" weightage="20" keywordseo="Tata-Consultancy-Services" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Consultancy Services" meta.hostid="153" meta.entityid="Tata Consultancy Services">Tata Consultancy Services</keyword> (TCS) added Rs 23,427.12 crore taking its valuation to Rs 16,36,189.63 crore. The mcap of Hindustan Unilever soared Rs 22,438.6 crore to Rs 6,89,358.33 crore and that of <keyword id="19895995" type="General" weightage="20" keywordseo="HDFC-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Bank" meta.hostid="153" meta.entityid="HDFC Bank">HDFC Bank</keyword> zoomed Rs 22,093.99 crore to Rs 12,70,035.77 crore. The market valuation of Infosys climbed Rs 17,480.49 crore to Rs 8,07,299.55 crore and that of ITC rallied Rs 15,194.17 crore to Rs 6,42,531.82 crore. The valuation of <keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="153" meta.entityid="Reliance Industries">Reliance Industries</keyword> jumped Rs 9,878.19 crore to Rs 19,92,160.61 crore and that of State Bank of India went up by Rs 7,095.07 crore to Rs 7,05,535.20 crore. However, the mcap of Life Insurance Corporation of India (LIC) declined by Rs 3,004.38 crore to Rs 6,54,004.76 crore. Reliance Industries was leading the chart of the top-10 most valued firms followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, Hindustan Unilever, LIC and ITC.

Mcap of nine of top-10 most valued firms jump Rs 2 lakh crore, Bharti Airtel leads the surge

<keyword id="19903807" type="General" weightage="100" keywordseo="Elon-Musk" source="keywords">Elon Musk</keyword>, the CEO of electric car maker Tesla and rocket manufacturer <keyword id="19905255" type="General" weightage="20" keywordseo="SpaceX" source="keywords" meta.keywordsubtype="org" meta.entityname="SpaceX" meta.hostid="261" meta.entityid="SpaceX">SpaceX</keyword>, may become the world's first <keyword id="20204152" type="General" weightage="20" keywordseo="trillionaire" source="keywords">trillionaire</keyword> by 2027, while Indian tycoon <keyword id="19929098" type="General" weightage="20" keywordseo="Gautam-Adani" source="keywords">Gautam Adani</keyword> may attain that status in the following year, and Asia's richest man <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword> may do so in 2033, according to an Informa Connect Academy report. For Musk, the richest in the world with $237 billion net worth, to become the world's first trillionaire, his wealth needs to grow at an average annual growth rate of 110%, the report said. <keyword id="19898586" type="General" weightage="20" keywordseo="Adani" source="keywords">Adani</keyword>, who is ranked 13th on the world billionaire index with a wealth of just under $100 billion, maybe the second trillionaire (net worth equal to at least one trillion US dollars) if his ports-to-power conglomerate was to continue growing at the current 123% average annual rate, it added. Rival <keyword id="19898589" type="General" weightage="20" keywordseo="Ambani" source="keywords">Ambani</keyword>, now ranked Asia's richest with a net worth of $111 billion, may achieve the same status in 2033, according to the report. His oil-to-telecom-and-retail conglomerate is slated to hit trillion-dollar market cap status in 2035. Ambani's <keyword id="19938772" type="General" weightage="20" keywordseo="Reliance-Industries-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries Ltd" meta.hostid="261" meta.entityid="Reliance Industries Ltd">Reliance Industries Ltd</keyword> is the only Indian company projected to hit that mark. The companies that will hit the trillion-dollar market cap mark include Taiwan's semiconductor maker TSMC, which has a market cap of $893.7 billion now and is expected to achieve that status in 2025. It will be closely followed by Berkshire Hathaway, pharma giant Eli Lilly, technology company Broadcom and electric automobile firm Tesla. The report said, "No one in the world has claimed trillionaire status - at least not yet. However, there are some likely candidates. The following are multi-billionaires who will probably become trillionaires sooner or later". After Elon Musk and Gautam Adani, NVIDIA founder Jensen Huang, Indonesian mogul Prajogo Pangestu, French businessman Bernard Arnault, and Facebook CEO <keyword id="19952202" type="General" weightage="20" keywordseo="mark-zuckerberg" source="keywords">Mark Zuckerberg</keyword> come next as prospective trillionaires. Currently, there are only a handful of companies that have crossed the $1 trillion in valuation. This includes Microsoft, Nvidia, Apple, Alphabet, Amazon, Saudi Aramco, and Meta. The most recent case is that of <keyword id="19921921" type="General" weightage="20" keywordseo="warren-buffett" source="keywords">Warren Buffett</keyword>'s Berkshire Hathaway in late August. Nvidia also joined the $ 1 trillion club in May 2023 and reached $ 3 trillion in June, becoming the second most valuable company in the world, with Microsoft ahead and Apple behind.

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Reliance Industries valuation jumps by Rs 42,399 crore following 1:1 bonus shares consideration announcement

PTI

FPIs withdraw nearly Rs 20,000 crore from equities in the last 5 trading sessions, make a beeline for China and US

BI India Bureau

Reliance to Kotak – Top 10 companies by valuation in India, according to Hurun

Sourabh Jain

Mcap of nine of top-10 most valued firms jump Rs 2 lakh crore, Bharti Airtel leads the surge

PTI

Elon Musk may be world's first trillionaire by 2027, Adani to touch the mark by 2028, Ambani in 2033: Report

PTI

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