Two To Tango : Following TCS, RIL re-enters $100 Billion club

India now has two companies that are valued over $100 billion.
Nearly three months after Tata Consultancy Services Ltd. became India’s first information technology major to breach the $100-billion mark in market capitalisation, Mukesh Ambani-owned Reliance Industries Ltd.’s market value crossed the milestone for the first time in the last 10 years.
The country’s largest oil-to-retail conglomerate had last hit $100 billion in market capitalisation on Jan. 18, 2008. The latest surge started with the launch of Reliance Jio Infocomm Ltd. in September 2016 that disrupted India’s telecom industry with cheap data. RIL’s market capitalisation has since doubled.
The rally increased Ambani’s wealth to more than $42 billion, according to Bloomberg Billionaires Index. India’s richest man owns close to 47 percent in RIL—the owner of the world’s largest oil refining complex.

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