The Reliance Group is the flagship Indian-origin conglomerate multinational company, which is the backbone of the Indian economy. Reliance Group have a variety of businesses, like retail, petroleum, entertainment, communication etc. Its headquarters is in Mumbai. Reliance company was founded by visionary businessman Dhirubhai Ambani in 1958 in Mumbai as a trading firm, that specializes in spices and polyester yarn. Currently Reliance company is divided into two parts Reliance Group managed by Anil Ambani, younger son of Dhirubhai Ambani and Reliance Industry directed by elder son Mukesh Ambani.
Brief History of Reliance
- A visionary Indian businessman named Dhirubhai Ambani started a company to trade spices and polyester yarn in 1958 in Mumbai and named Reliance Commercial Cooperation.
- In 1966, Dhiru Ambani started his first textile mill in Naroda, Gujrat, India under the incorporation of Reliance Textile and Engineering Ltd. For a decade they focused on the textile industry to grow their brand in India.
- In 1977, to arrange more funds and to expand & beat the competition Dhiru Bhai Ambani launched India’s first-ever IPO after the independence and became very popular among retail investors.
- In 1985, Reliance Textile and Engineering Ltd became Reliance Industries.
- In 1999, reliance set up the world’s largest oil refinery in Jamnagar, Gujarat.
- In 2005, Due to some disagreement in the business, the reliance industry was divided between two brothers Mukesh Ambani, the elder brother took the most traditional business of the reliance industry and Anil Ambani, the younger brother took most new generation business like power, telecommunication and financial services.
- After the separation Telecommunication business was owned by Anil Ambani but after amendment in the noncompetition agreement Mukesh Ambani led Reliance Industry has launch its owned telecommunication business under the brand of Reliance Jio on 5 Sept 2016 and became the most subscribed telecommunication company in Indian.
- Reliance industries are trying to build them self as global leader in every sector and in the process of this now Jio and hotstar merger is approved to make biggest streaming platform in India and other counties.
Currently, Mukesh Ambani, chairman and managing director of the reliance industry is the richest person in Asia and Reliance Industry is the 8th biggest company in Asia by market Capitalization.
Listed Company of Reliance Industry Led by Mukesh Ambani
- Reliance Industry: Leading player in retail, telecommunication and petrochemical industry.
- News18 Media & Investment Ltd: Media conglomerate company
- Justdial: A Business Listing Company
- Hathaway Cable and Data Communication Ltd: Broadband Company
- Den Networks: Cable television and broadband service provider
- Reliance Industry Infra: Industrial structure manufacturing company.
- Jio Financial Services: Financial services provider
Shares History of Reliance Industry
Dhirubhai Ambani launched the Reliance IPO in 1977 at Rs.10 each share to engage a large number of small investors and the issue was subscribed seven times that time. If you invested Rs.10,000/- in 1977 it would be worth of Rs.2.1 crore today.
Share surpasses the price of Rs.50 in 2002
In 2008, reliance shares touched the Rs.700 mark with almost 14 multiple returns to their investors
At the end of 2008 world financial crisis massively hit the market and the reliance share price went below to 300 mark.
After 10 years in 2018, the share prices surpassed the Rs.1000 milestone
In just 2 years reliance shares had doubled and touched the Rs.2000 mark
Currently, in 2024, share prices are trading above the Rs.3000 mark
Current Price of Reliance (06 August 2024)- Rs.2.951.00
52 Week High- Rs.3,217.60
52 Week Low- Rs.2,220.30
What’s Ahead?
Reliance Industry is very promising and one of the largest firms in the world. With expansion in new sectors reliance industry is proceeding to achieve world giant. We are expecting Reliance Jio IPO very soon and if you are a long-term investor and looking for a good momentum stock then reliance industry share is a good option for you.
To Know more about other companies