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RIL overtakes ExxonMobil to become world's 2nd most valuable energy company, market cap crosses USD 189 billion

Agencies
July 24, 2020

Mumbai, Jul 24: Reliance India Limited (RIL) on Friday overtook ExxonMobil to become the world's second most valuable energy company and 46th among the world's largest companies by market capitalisation.

RIL's market capitalisation stood at Rs 14.16 lakh crore (USD 189.3 billion) at market close on Friday. ExxonMobil's current market value is USD 184.77 billion.

"Reliance Industries, with a market capitalisation of USD 189.3 billion now is the second-most valuable energy company in the world. Reliance Industries now stands at 46th among the world's largest companies by market capitalisation ahead of well-known names like ExxonMobil, Abbott Laboratories, Oracle Corp, Chevron and Unilever Plc, and just below PepsiCo," RIL said in an official release.

RIL continued its rally on Friday, notwithstanding overall weak market conditions.

RIL shares made a new all-time high of Rs 2,163 and were last traded at Rs 2,148.8 on NSE with a gain of 4.4 per cent. The market capitalisation of fully paid-up shares stands at Rs 13.62 lakh crore (USD 182.06 billion), the release said.

Reliance partly paid-up shares gained 9.33 per cent on NSE today to last trade at Rs 1289.95. The partly paid-up shares now have a market capitalisation of Rs 0.55 lakh crore (USD 7.29 billion).

"Reliance's share price had touched a bottom of Rs 867 on March 23, 2020, when the total market value of the company stood at Rs 5.5 lakh crore or $73.5 billion. Thus, RIL has added $115.9 billion to shareholder wealth within just four months - one of the highest value creation feats in the world in such a short time," the release said.

Reliance had earlier raised Rs 212,809 crore through Rights Issue, combined investments in Jio Platforms and investment by bp.

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News Network
June 18,2020

New Delhi, Jun 18: For the 12th consecutive day, state-run oil marketing companies (OMCs) has increased the price of fuel on Thursday.

The price of petrol is increased by 53 paise a litre while that of diesel by 64 paise a litre.

Petrol and diesel will now cost Rs 77.81/litre and Rs 76.43/litre respectively in Delhi.

Notably, oil marketing companies have been adjusting retail rates in line with costs after an 82-day break from rate revision amidst the COVID-19 pandemic. These firms on June 7 restarted revising prices in line with costs.

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News Network
April 20,2020

Thiruvananthapuram, Apr 20: The Kerala health department has declared 88 local bodies including the corporation, municipality and panchayats, spread over 14 districts in the state as COVID-19 hotspots.

"The lockdown restrictions in these areas will be continued in the hotspots announced by the state health department," said state DGP Lokanath Behera in a statement.

"Hot spots are being announced based on COVID-19 positive cases, primary contacts and secondary contacts. As the outbreak of the disease increases, hot spots will be revised daily," said State Health Minister KK Shailaja.

However, the Minister said that a particular region will be excluded from the hot spot after a weekly data analysis.

District wise hot spots in the state - Thiruvananthapuram (3) including Thiruvananthapuram Corporation, Kollam (5), Alappuzha (3), Pathanamthitta (7), Kottayam District (1), Idukki (6), Ernakulam (2), Thrissur (3), Palakkad (4), Malappuram (13), Kozhikode (6), Wayanad (2), Kannur (19) and Kasaragod (14).

In Kerala, 400 people have detected positive for coronavirus, including 3 deaths, as per the Union Health Minister.

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News Network
January 14,2020

New Delhi, Jan 14: One of the four Nirbhaya gang rape convicts, who are scheduled to be hanged on January 22, moved a mercy plea before President Ram Nath Kovind to set aside the death sentence issued against him.

He also moved the Delhi High Court to set aside the death warrant issued by a trial court. This hearing is scheduled for Wednesday before a bench of Justices Manmohan and Sangita Dhingra Sehgal.

The petition, filed through advocate Vrinda Grover, seeks setting aside of the January 7 order issuing the warrant of his execution.

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