Reliance Industries, owned by Mukesh Ambani, has become the largest wealth creator on Dalal Street with a market capitalization of Rs 20 lakh crore. It is bigger than American giants like McDonald s, PepsiCo, Netflix, and Accenture. RIL is also the only Indian company among the world s 50 most valuable companies and is also one of the top candidates to become India s first $1 trillion stock.
Indian billionaires Mukesh Ambani and Sunil Mittal may wait for the Lok Sabha elections to finish before hiking telecom tariffs in the second half of 2024. Jefferies expects a 20% tariff hike in the second quarter of fiscal year 2025. The government, which owns 33% stake in Vodafone Idea, may also favor tariff hikes to support the telco s survival. CLSA estimates that Bharti Airtel will lead tariff hikes to an Arpu of Rs 257 by fiscal year 2026.