On Thursday, Reliance Industries (RIL) scaled another new height by becoming the first Indian company to cross-market capitalisation of $200-billion. As the Sensex came to a close on Thursday, September 10 RIL had a market cap of $208 billion.
Currently, RIL is India's most valued company and Tata Consultancy Services (TCS) with a market valuation of $119 billion is a distant second. Recently, Reliance Industries Limited and Reliance Retail Ventures Limited has announced that Silver Lake will be investing ₹7,500 crores into RRVL, which is a subsidiary of Reliance Industries. This investment values RRVL at a pre-money equity value of ₹4.21 lakh crores which basically means that the investment will translate into a 1.75 per cent equity stake in RRVL on a fully diluted basis.
As per reports, RIL is in talks wtih Amazon.com to sell roughly $20 billion stake in its retail business.
While this may be the case so, did you know that Reliance is not one of the leading debt-free companies in India? In fact, it does not even feature in the top 50 list.
According to the recently released data on investment analysis portal screener.in on virtually debt-free listed companies in India at present, industry heavyweight Reliance Industries Limited seems to have not made the top-50 in the list of debt-free companies collated by investment professional Gurpreet Saluja.
The list of 50 virtually debt-free companies are:
1. Hindustan Unilever
2. Nestle India
3. Castrol India
4. Praveg Comm.
5. IOL Chemicals
6. Colgate-Palmolive
7. I R C T C
8. Diamines & Chem
9. Jyoti Resins
10. P & G Hygiene
11. VST Industries
12. Indian Energy Ex
13. Dolat Investment
14. Sonata Software
15. Balmer Law. Inv.
16. TCS
17. HDFC AMC
18. Chemcrux Enterp.
19. Kanchi Karpooram
20. Mangalam Organic
21. Marico
22. L&T Technology
23. CRISIL
24. L & T Infotech
25. Metropolis Health
26. Oracle Fin.Serv.
27. Swaraj Engines
28. Bajaj Consumer
29. TCI Express
30. Gillette India
31. Caplin Point Lab
32. Avanti Feeds
33. Mahanagar Gas
34. Thyrocare Tech.
35. Vinati Organics
36. United Drilling
37. Abbott India
38. Tata Elxsi
39. Assoc.Alcohols
40. Honeywell Auto
41. Pidilite Inds.
42. Rites
43. Tyche Industries
44. AstraZeneca Pharma
45. Asian Paints
46. Glaxosmi. Pharma
47. Zen Technologies
48. Shree Ganesh Rem
49. Infosys
50. ITC