Mukesh Ambani’s RIL is inching close to ₹10 lakh crore market value – but already a part of elite global oil club

• Reliance Industries today beat the British oil company BP Plc to enter the elite oil club.
• Reliance Industries is now valued at $138 billion.
• Having already become the first Indian company to have a ₹9.5 lakh crore market valuation, RIL is on its way to have a ₹10 lakh crore valuation.

Asia’s richest man is only getting richer. Mukesh Ambani’s Reliance Industries beat the British oil major British Petroleum to enter the elite and high stakes oil club.

Currently, Exxon Mobil Corp tops the list of most valuable oil companies, and has Chevron Corporation, Royal Dutch Shell, Total in the list. Exxon’s position can be challenged with Saudi Aramco’s IPO in the works.

Reliance is also moving closer to the Chinese giant PetroChina which is also a part of the club.

The stock of Reliance Industries has been on a fast lane for the last few months, and the company is now valued at $138 billion, according to reports.

Even with the challenges in the oil industry due to crude prices, RIL’s market value increased by 35% in the current financial year.

The share price of Reliance Industries hit a record-high ₹1,548.50 today. Having already become the first Indian company to achieve ₹9.5 lakh crore market valuation, RIL is on its way to have a ₹10 lakh crore valuation.

Currently, Ambani is Asia’s richest man and holds the 14th rank in the list of world’s richest, with a net worth of $56.7 billion.

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