Reliance close to surpass Jack Ma’s Alibaba
New Delhi: The shares of Reliance Industries, the company of Mukesh Ambani, the biggest tycoon of India and Asia, have been gaining momentum in the last few days. Reliance is separating its financial services and for this July 20 has been fixed as the record date. The name of this company will be Jio Financial Services Limited (JFSL) and it is likely to be listed before Diwali. Shareholders of Reliance will get one share of JFSL for every share held. This will benefit more than 36 lakh shareholders of Reliance. This is the reason why Reliance’s stock has remained in demand for the last few days. Due to increase in its value, the market cap of the company has also crossed Rs 19 lakh crore. Reliance is the largest company in the country in terms of market cap.
According to companiesmarketcap.com, Reliance has come close to leaving behind China’s e-commerce giant Alibaba. Reliance’s market cap is currently $ 231.01 billion and it is at number 42 in the list of world’s top companies. On the other hand, Alibaba has a market cap of $234.95 billion and is at number 41 in this list. Alibaba was founded by Jack Ma who once surpassed Mukesh Ambani in success. But a statement against the Chinese government cost him dearly. In 2020, Alibaba’s valuation reached $ 620 billion. But after that it has declined a lot.Who are in the top 10
According to companiesmarketcap.com, Reliance has come close to leaving behind China’s e-commerce giant Alibaba. Reliance’s market cap is currently $ 231.01 billion and it is at number 42 in the list of world’s top companies. On the other hand, Alibaba has a market cap of $234.95 billion and is at number 41 in this list. Alibaba was founded by Jack Ma who once surpassed Mukesh Ambani in success. But a statement against the Chinese government cost him dearly. In 2020, Alibaba’s valuation reached $ 620 billion. But after that it has declined a lot.
Who are in the top 10
Apple is the largest company in the world by market cap. Its market cap is $3.047 trillion. At number two is Microsoft ($2.672 trillion) and at number three is Saudi Aramco ($2.071 trillion). Google’s parent company Alphabet is fourth, Amazon fifth, Nvidia sixth, Tesla seventh, Facebook’s parent company Meta Platforms eighth, Berkshire Hathaway ninth and Taiwan company TSMC at number ten. India’s HDFC Bank is at number 62 and TCS at number 75. Saudi Aramco is the world’s largest company by revenue and Walmart by revenue.