Mukesh Ambani Current Affairs

Reliance Industries market capitalisation hits Rs 5 lakh crore mark

Mukesh Ambani-led Reliance Industries Limited (RIL) for the first time in its trading history has crossed Rs 5 lakh crore in market capitalisation. The market cap of RIL stood at Rs 5,04,458.09 on BSE (Bombay Stock Exchange.

RIL is second firm to cross Rs 5 lakh crore in market capitalisation. It is also RIL’s highest market cap in its lifetime and also currently it is the most valued company on the bourses.

Tata Consultancy Service (TCS) was first company to hit Rs 5 lakh crore in market capitalisation milestone in July 2014. Later in November 2014, its market capitalisation had surged to 5.43 lakh crore. Now, it is the second most valuable company in terms of market-capitalisation.

About Reliance Industries Limited (RIL)

RIL is an Indian conglomerate engaged in energy, petrochemicals, textiles, natural resources, retail, and telecommunications. It is the third most profitable company in India. It is the second largest company in India in terms of revenue after the government-controlled Indian Oil Corporation (IOC). It was ranked 215th on the Fortune Global 500 list of the world’s biggest corporations as of 2016. It was also ranked 8th among the Top 250 Global Energy Companies by Platts as of 2016.

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Mukesh Ambani India’s richest person for 9th consecutive year: Forbes

Industrialist Mukesh Ambani has been named as India’s richest person for ninth consecutive year in a row with a net worth of 18.9 billion dollars in the 2015 Forbes magazine’s India rich list.

Presently, Mr. Ambani is the Chairman, Managing director (MD) and largest shareholder of Reliance Industries Limited (RIL). It should be noted that RIL is India’s second most valuable company by market value after Tata Consultancy Services (TCS).

Key facts

  • Top 10: Mukesh Ambani (18.9 billion dollars), Dilip Shanghvi (18 billion) of Sun Pharma, Azim Premji (15.9 billion) of Wipro , Hinduja brothers (15.9 billion), Pallonji Mistry (14.7 billion), Shiv Nadar (12.9 billion), Godrej family (11.4 billion), Lakshmi Mittal (11.2 billion), Cyrus Poonawala (7.9 billion) and Kumar Mangalam Birla (7.8 billion).
  • The combined wealth of India’s 100 richest persons remained largely unchanged at 345 billion dollars in 2015 as compared to 346 billion dollars in 2014.
  • Flipkart’s co-founders Sachin and Binni Bansal have made their debut in this edition of list. They are placed at 86th position with a net worth of 1.3 billion dollars each.
  • There are 12 newcomers in this edition of list including Flipkart’s founders, IndiGo’s co-founder Rakesh Gangwal.
  • Four women have featured in this edition of list with collective wealth of 9.2 billion dollars. They are Savitri Jindal (3.8 billion)- ranked 23rd, Leena Tewari ranked 54th, Indu Jain (1.9 billion)- ranked 57th and Qimat Rai Gupta (1.4 billion)- ranked 74th.
  • Forbes magazine has compiled the list using shareholding and financial data obtained from individuals and families, stock exchanges, analysts and regulators.

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