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.
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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