29.7 C
New Delhi
September 22, 2020
KhabriBaba
Business

Record of RIL, among the top 6 oil companies

Reading Time: 2 minutes
  • Mukesh Ambani’s company Reliance Industries Limited created history on Wednesday
  • Ranked in the club of top 6 countries in the world producing oil, surpassing British Petroleum
  • The company on Tuesday became the first company to touch a 9.5 lakh crore cap in the Indian stock market.
  • Mukesh Ambani’s oil company totaled $ 138 billion after the business closed on Tuesday

 

Reliance Industries Ltd (RIL), the company of Asia’s richest man Mukesh Ambani, has once again created a new history on Wednesday. After becoming the first Indian company to touch a market capitalization (MCAP) of 9.5 lakh crore on Tuesday, on Wednesday it surpassed British Petroleum (BP) to become one of the top six oil-producing companies in the world.

RIL becomes the first Indian company to touch MCAP of 9.5 lakh crore

After closing the business on Tuesday, Mukesh Ambani’s oil company had a total value of $ 138 billion (Rs 9.66 lakh crore), while British Petroleum has a total value of $ 132 billion (Rs 9.24 lakh crore). This year, Reliance’s stock has increased up to three times.

Will reduce debt on the company in 18 months

The company’s stock has risen threefold this year after Ambani announced several more measures. Also, including selling its stake in its oil-to-chemicals business to Saudi Aramco in the next 18 months to reduce its debt.

Jack Ma overtakes the property

According to the Bloomberg Billionaire Index, Mukesh Ambani’s total wealth has increased to $ 56 billion (Rs 3.92 lakh crore) with the increase in shares. However, making him the richest person in Asia, surpassing Jack Ma of Alibaba.

Reliance’s MCAP surpassed BP for the first time at the end of last month, but on Wednesday. Also, it has once again taken its lead on the strength of shares in the domestic stock market.

Leading to beating Petrochina

Currently, Reliance is also reducing the gap of MCAP with PetroChina. However, Asia’s largest oil company by value and is on track to become the first Indian company to be worth Rs 10 lakh crore by MCAP

0 0 vote
Article Rating

Related posts

Mukesh Ambani gets 552 lakh shares in RIL rights issue

Ritu Nandal

Corona effect: Housing sales falls 26% in Jan-Mar in 9 top cities

Ritu Nandal

‘Participating in sale of Virgin Australia’ says IndiGo’s largest shareholder InterGlobe Enterprises

Ritu Nandal
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Translate »
0
Would love your thoughts, please comment.x
()
x