- 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