Mukesh Ambani’s Reliance makes into the list of top 50 most valued companies in the world
By Lokmat English Desk | Published: July 24, 2020 02:25 PM2020-07-24T14:25:07+5:302020-07-24T14:29:07+5:30
Next 
Billionaire Mukesh Ambani’s Reliance Industries Ltd has broken into the top 50 most valued companies globally after it became the first company with market capitalisation of over Rs 13 lakh crore. By vrtue of this the Mumbai Indians owner has left the likes of Tata's and Birla's behind.
The oil-to-telecom conglomerate is ranked 48th in market cap globally, according to stock market data.
Globally, Saudi Aramco is the company with the highest market cap of USD 1.7 trillion, followed by Apple, Microsoft, Amazon, and Alphabet.
Reliance on Thursday closed at Rs 2,060.65 on the BSE, up 2.82 per cent over the previous day’s close. This gave the firm a m-cap of over Rs 13 lakh crore.
Together with the firm’s partly-paid shares that were issued in the recent rights issue and are traded separately, the company had a combined m-cap of Rs 13.5 lakh crore or over USD 181 billion.
No Indian company has ever crossed an m-cap of Rs 13 lakh crore, Apple, Microsoft, Amazon, and Alphabet have also found a place in the list.
This is higher than Chevron’s about USD 170 billion m-cap as well as likes of Oracle, Unilever, Bank of China, BHP Group, Royal Dutch Shell and SoftBank Group.
Reliance is the 10th highest m-cap company in Asia. China’s Alibaba Group is ranked 7th globally.
The only other Indian company in the top 100 firms is Tata Consultancy Services. As per its closing price of Rs 2,170.75 on the BSE, TCS has an m-cap of Rs 8.14 lakh crore or about USD 109 billion.
Recently, Mukesh Ambani overtook Steve Ballmer to become the fifth-wealthiest person on the planet, with a net worth of $77.4 billion. The jump in ranking is just the latest milestone for Mr Ambani, 63, whose fortune has surged by $18.8 billion since the beginning of the year.
Mr Ambani cracked the group of the 10 richest people just last month. Two weeks ago, he surpassed Warren Buffett, now ranked No. 7. He overtook Elon Musk and Google co-founders Sergey Brin and Larry Page days later.
