Reliance Industries Ltd. Current Affairs - 2020

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HDFC Bank becomes third Indian company to cross $100 bn M-cap

HDFC Bank Ltd has crossed the $100 billion market capitalization (M-Cap) in intraday trading, thus becoming only the third company in India to achieve this milestone. However, it closed below $100 billion mark at $99.5 billion. HDFC is one of India’s largest private-sector lenders.

Key Highlights

HDFC is now in league of Reliance Industries Ltd (RIL), which has a market value of $140.74 billion, and Tata Consultancy Services Ltd. (TCS) that has a market capitalization of $114.60 billion.

HDFC Bank now ranks 110th in the list of world’s most valued firms. However, it ranks 26th among most valued banks and financial companies around the world that have a market capitalization of more than $100 billion.

The surge in HDFC Bank’s share price comes after most analysts remain bullish on stock. Investors continued to buy stock in hope that lender would report consistent earnings performance, stable asset quality, steady 20% profit growth and healthy advances growth.

With its capital well above regulatory requirements as well as higher retail focus, financial analysts expect HDFC Bank to deliver strong credit growth going forward. Also higher focus on digitization and productivity along with cost rationalization is likely to result in better profitability growth.

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RIL becomes highest-ranked Indian company on Fortune Global 500 list

Mukesh Ambani-led Reliance Industries Ltd. (RIL) becomes highest-ranked Indian company on Fortune Global 500 list. It has jumped 42 places and was ranked 106 this year.

Key Highlights

In this year’s list, RIL replaced Indian Oil Corporation (IOC) which ranked 117 as top-ranked Indian company. State-owned IOC had been top-ranked Indian company on list for years and was 1st on Fortune India 500 list which started in 2010. In 2018’s Global 500 list, RIL was ranked 148th and IOC was at 137th place.

RIL’s revenue rose by 32.1% from $62.3 billion in 2018 to$82.3 billion in 2019 while IOC clocked a 17.7% growth in revenue from $65.9 billion to $77.6 billion.

Other Indian companies to feature on list: Oil & Natural Gas Corp (ONGC) was ranked 160th, State Bank of India (SBI) 236th, Tata Motors 265th , Bharat Petroleum Petroleum Corp Ltd (BPCL) 275th and Rajesh Exports 495th.

Top 10 Position:

  1. Walmart: United States (US) retail giant topped list.
  2. Sinopec Group: Chinese state-owned oil and gas company
  3. Royal Dutch Shell: Dutch company
  4. China National Petroleum
  5. State Grid
  6. Saudi Aramco: Saudi oil giant
  7. BP: British multinational oil and gas company
  8. Exxon Mobil
  9. Volkswagen
  10. Toyota Motor

About Fortune Global 500

It is an annual ranking of top 500 corporations worldwide as measured by revenue. It is also known as Global 500.

The list is compiled and published annually by Fortune magazine, an American multinational business magazine.

Factors that push and pull Global 500 rankings- global economy, trade policies, mergers and acquisitions and corporate upheaval.

Analysis: World’s 500 largest companies generated $32.7 trillion in revenues and $2.15 trillion in profits. The companies represented by 34 countries and employ 69.3 million people worldwide.

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