Tags: Reliance, Reliance Communications, Tata

Reliance Communication Ventures to replace Tata Power in Sensex

Anil Ambani owned Reliance Communication Ventures Ltd has finally touched the market cap of Rs 65,000 crores and would now be replacing Tata Power in the stock market benchmark Sensex.

They would be included in the index from June 12 and with this, they become the second Indian telecom company after Bharti Televentures to find a place in the Sensex.

Bharti Televentures is the largest player in the telecom sector with a market cap of Rs 77,240 crores. FMCG major HLL should be the next one after RCoVL to make an entry into the Sensex as their market cap is around Rs 63,385 crores.

RCoVL would be the second Anil Dhirubhai Ambani group company after Reliance Energy to find a place in this index. The company said in a statement on these developments: “At a conservative net debt equity ratio of 1:1, we have capacity to add over Rs 8,000 crore (Rs 80 billion) of leverage on our balance sheet”.