10,607.3555.65
Stock Analysis, IPO, Mutual Funds, Bonds & More

RIL pips BP Plc to become 6th largest energy company

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.

, ET Bureau|
Last Updated: Nov 21, 2019, 11.32 AM IST
0Comments
mukesh-ambani-bccl
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.
1

2

3

(Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)

Also Read

CCI approves combination between BP Global Investments, Reliance BP Mobility

BP to set up major new global business services centre in Pune

BP to cut 10,000 jobs worldwide amid coronavirus pandemic

BP's profit tumbles, debt climbs as coronavirus crisis hammers oil demand

RIL-BP Unlikely to commence KG Basin production in may

BP Kanungo gets one-year extension as RBI Deputy Governor

Comments
Add Your Comments
Commenting feature is disabled in your country/region.

Other useful Links


Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service