Reliance Industries (RIL) has become the first Indian company to achieve a market capitalisation of Rs 20 lakh crore. The conglomerate, started as a small textile manufacturer in 1966, has since diversified into several sectors including petrochemicals, oil & gas, retail, telecom, and financial services. RIL’s growth and diversification have contributed to its sustained 5% share in India’s market capitalisation. With this achievement, RIL joins the ranks of the world’s top 50 companies in terms of market cap.
GAIL, the state-run utility, is scouting for a stake in LNG projects in the US and long-term supply deals as it expects gas transmission volumes to rise. The company plans to invest in expanding its pipelines, city gas network, and petrochemicals capacity. GAIL has teamed up with Greenline to use LNG for heavy-duty commercial vehicles. India will contribute 10% of the incremental global growth in petrochemicals. GAIL recently acquired JBF Petrochemicals Ltd and is setting up a specialty chemicals plant.
