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    RIL pips BP Plc to become 6th largest energy company

    Synopsis

    The stock — which has risen 36% so far this year — is trading at 21 times FY20 estimated earnings and 3.5 times book value. The RIL stock ended up 2.47% at Rs 1,547 on the BSE Wednesday. RIL chairman Mukesh Ambani, with a net worth of $58 billion, remains the richest Asian.

    RIL chairman Mukesh Ambani, with a net worth of $58 billion, remains the richest Asian.
    On Wednesday, Reliance Industries, which is fast nearing the Rs 10-lakh-crore market value mark, overtook BP Plc to become the world’s sixth-largest energy company in terms of market capitalisation. The RIL stock has rallied 6% in the past two days after the group’s telecom arm Reliance Jio Infocomm said it will increase call and data charges. The stock — which has risen 36% so far this year — is trading at 21 times FY20 estimated earnings and 3.5 times book value. The RIL stock ended up 2.47% at Rs 1,547 on the BSE Wednesday. RIL chairman Mukesh Ambani, with a net worth of $58 billion, remains the richest Asian. Alibaba’s Jack Ma is a distant second with a net worth of $42.8 billion. Ambani is the world’s 12th richest person on a list topped by Microsoft’s Bill Gates. ET crunches the numbers.
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    5 Comments on this Story

    Sasikumar333 days ago
    This ranking should have been done ten years back; at that time most of RIL projects were in developmental state. Now that most of them have reached fruition; what benefit an ordinary investor gets; the shares have rallied too much.
    Shas Krish333 days ago
    Ot is a fact but is also a misleading News.
    Savitha KL333 days ago
    interesting that every foreign player whether Aramaco or BP deals with RIL and not ONGC? is a certain marketing officer of Jio called Modi responsible?
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