India, Feb. 17 -- Expanding its global consumer ambitions, Reliance Industries Limited is stepping into Nigeria through a strategic joint venture in the FMCG space. After building strong brand traction in India since 2022, the company is now testing its distribution strength and scale capabilities in one of Africa's largest and fastest-growing consumer markets.

With the market cap of Rs 19 lakh crore, the shares of Reliance Industries Ltd have closed at Rs 1,423. The shares are trading at a PE of 25, whereas its industry PE is at 15. The shares have given a return of 37% in the last 5 years.

About the JV with TGI Reliance Industries Limited, through its FMCG division, Reliance Consumer Products Limited (RCPL), has recently announced a m...