Life Insurance Corporation of India enters Fortune Global 500 |
There is a new entrant to the latest Fortune Global 500 list, India`s largest life insurance company, Life Insurance Corporation after getting listed in the market now has broken into the list. LIC has revenue of USD 97.26 billion and a profit of USD 553.8 million. It was also ranked 98th on the just released Fortune 500 list. Reliance Industries also jumped 51 places to 104 on the 2022 list. This is the first time that LIC made it to the list, which ranks among listed companies by its sales. Reliance, with revenue of USD 93.98 billion and a net profit of USD 8.15 billion in the latest year, has been on the list for 19 years. The list, topped by US retailer Walmart, has nine Indian companies -- five of them state-owned, and four from the private sector. Only the debutant LIC, which came out with its IPO last fiscal, was ranked higher than Reliance among the Indian corporates. Indian Oil Corporation (IOC) rose 28 places to 142nd rank while Oil and Natural Gas Corporation (ONGC) climbed 16 places to 190. The list had two Tata group firms -- Tata Motors at 370 and Tata Steel at 435th spot.
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