'Rs 1000 invested in Reliance shares in 1977 worth Rs 16,54,503 today'

New Delhi: Reliance Industries Limited (RIL) Chairperson Mukesh Ambani during his speect at the 40th annual general meeting (AGM) on Friday came up with an interesting calculation which can surely cheer up any retail investor.

Ambani said, “one thousand rupees invested in Reliance shares in 1977 is today worth Rs 16,54,503 – over 1,600 times more valuable.”

It simply means that money invested has doubled every two and a half years over the past 40 years, which is a big achievement for any publicly listed company.

Adding further he said, “market capitalization has multiplied from ten crores to over five lakh crores.”

The stock has since then more than doubled wealth of investors in every two-and-a-half years.