Reliance Industries Contributes The Most To Nifty’s Debt
A Reliance Industries Ltd. sign is lit at night at a gas station in Mumbai, India. (Photographer: Abhijit Bhatlekar/Bloomberg News)

Reliance Industries Contributes The Most To Nifty’s Debt

India’s most valued company is also the most indebted.

Reliance Industries Ltd. now contributes the most to debt of the Nifty 50 companies, according to Bloomberg data. The Mukesh Ambani-promoted company’s debt as a percentage of these listed firms rose to 16.7 percent—the highest ever—in the year ended March.

Reliance Industries Contributes The Most To Nifty’s Debt

The companies from the financial sector in the Nifty 50—or 11 firms—have been excluded from the analysis.

Reliance Industries’ debt jumped the most in at least nine years in the year ended March 2019 even as it demerged its tower and fibre assets. Total debt of the oil-to-telecom conglomerate rose to Rs 2.72 lakh crore, as per Bloomberg data, due to higher capital expenditure of Rs 1.33 lakh crore.

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Also read: Nifty Companies’ Debt Jumps The Most In Five Years

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