Mukesh Ambani, renowned for his billion-dollar business empire, further solidified his position as India’s richest man with a real-time net worth of USD 119.2 billion (Rs 994830 crore) according to Forbes. The 67-year-old entrepreneur witnessed a significant boost to his wealth on Wednesday as shares of his flagship company, Reliance Industries, surged by 4%. This resulted in an impressive Rs 80,359.48 crore addition to his fortune.
The company’s market valuation also soared by Rs 80,359.48 crore, reaching Rs 20,48,282.28 crore on June 26th. The stock, a key benchmark in the Indian market, closed at Rs 3,027.40 on the BSE, marking a 4.09% climb. This surge in Reliance Industries’ stock price comes just days ahead of the highly anticipated wedding of Mukesh Ambani’s son, Anant Ambani, and his fiancée, Radhika Merchant, scheduled for July 12th at the Jio World Convention Centre in Mumbai.
The positive momentum continued on Thursday, with Reliance shares rising by 0.96% to settle at Rs 3,057 on the NSE. Reliance Industries maintains its position as the most valued company in India based on market capitalization. The substantial jump in the stock played a key role in driving the equity markets higher. The 30-share BSE Sensex, a major Indian stock market index, gained 620.73 points (0.80%) to close at a new peak of 78,674.25. Reliance Industries’ contribution to this rise amounted to a significant 352 points.
Adding to the celebratory atmosphere, Anant Ambani and Radhika Merchant hosted two lavish pre-wedding festivities before their wedding day. The Ambani family hosted a grand cruise party in Italy on May 29th, culminating in a celebration in France on June 1st.
