Reliance becomes 6th energy giant |
Mukesh Ambani led-Reliance Industries Limited, on Wednesday, overtook British oil major BP Plc in terms of market capitalisation to become the sixth-largest energy entity in the world. RIL`s market cap touched 131.635 billion dollars on Wednesday as compared to BP Plc`s 129.9 billion dollars, riding on a strong rally in the last two-sessions. The British energy giant`s market cap fell on Tuesday as its stocks were trading lower after it reported a 41 percent fall in its third-quarter net profit. On Tuesday, shares of BP Plc closed 3.8 percent lower at 6.33 dollars on the London Stock Exchange. The BP Plc stock has declined 0.7 per cent on year to date basis, on the contrary RIL stock has given 31 per cent returns on its share value. Among the listed companies, Exxon Mobil Corp is the biggest oil and gas firm in the world with a market cap of 290.42 billion dollars, followed by Royal Dutch Shell Plc at 238.15 billion dollars, Chevron Corp 224.92 billion dollars, Petrochina Co 149.20 billion dollars, and Total SA 141.74 billion dollars. RIL shares have been on a gaining spree and touched a fresh 52-week high of Rs 1,484 on the bourses on Wednesday, amid the conglomerate`s plan to create a holding company for its digital platform initiatives.
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