Mukesh Ambani group M-cap hits Rs 4 trillion

MUMBAI: Mukesh Ambani on Friday became India's first businessman to head a group with market capitalisation of more than Rs four trillion, following a sharp surge in the share prices of his group companies. The shares of his flagship company Reliance Industries as well as three other group firms -- Reliance Petroleum, IPCL and Reliance Industrial Infrastructure today soared by their all-time high levels with gains ranging from 4-12 per cent. Total investor wealth in the four companies surged to a total of Rs 4,01,800 crore, led by RIL's market value of Rs 3,16,940 crore. The sharp rally in the Mukesh Ambani group stocks further widened the gap with his younger brother Anil Ambani group's total market cap, which today stood at less than half the amount at Rs 1,90,700 crore. The shares of four Anil Ambani group firms -- Reliance Communications, Reliance Capital, Reliance Energy and Reliance Natural Resources Ltd -- also witnessed a sharp rally on Friday. Except for RCOM, all the three stocks reached their all-time high levels. RCOM's market cap rose to Rs 1,18,455 crore, while that of Reliance Capital stood at Rs 37,874 crore. RNRL and REL attained a market cap of about Rs 11,299 crore and Rs 23,072 crore, respectively. Based on the promoter holding in these companies, the net worth of Mukesh Ambani rose to Rs 1,94,871 crore, while that of Anil Ambani was Rs 1,12,509 crore.