The rally in RIL literally has not halted even for a brief period since it started in late March 2020. On July 06, the stock of RIL gained another 3% with the overall market capitalization of Reliance breached the Rs.12 trillion marks or Rs.12 lakh crore. The stock has touched a peak level of Rs.1855, gaining more than 110% from the lows of late March 2020.

Now, this kind of a rally is rarely seen in a stock which was already the most valuable stock in the market. The latest thrust to the Reliance price came after Intel Capital became the twelfth large global investor in Jio Platforms having invested Rs.1895 crore. This may be a very small investment but it gives assurance when a wing of Intel Corp invests in Jio.

Now, RIL has managed to place 25.07% of Jio Platforms with investors raising Rs.117,500 crore. The markets are celebrating because this combined with the Rs.52,300 crore proceeds of the rights issue is sufficient to make RIL a company with zero net debt in 2021. As of Mar-20, RIL had net debt on its books to the tune of Rs.161,000 crore.