Reliance Industries, controlled by billionaire businessman Mukesh Ambani, has outpaced other energy majors to become the second-largest energy company in terms of market capitalization, after Saudi Arabia’s oil behemoth Aramco.
Shares in the Indian conglomerate, which mostly owns businesses engaged in energy and resources, as well as other spheres such as retail and telecoms, added over four percent at the end of the trading week. The recent gains boosted the company’s value to a record 14.15 trillion rupees, or over $189 billion – a mark that no Indian company has ever crossed.
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