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RIL joins TCS in $100-bn market cap club; world's 8th biggest oil company

TCS, currently valued at $110 billion, entered the club in April

Samie Modak 

RIL
RIL during its previous peak in January 2008 traded at a P/E of 35 times

Reliance Industries (RIL) on Thursday joined (TCS) in the $100-billion market capitalisation club.

TCS, currently valued at $110 billion, entered the club in April, while this is Mukesh Ambani-led company’s re-entry after more than a decade. HDFC Bank, India’s third most-valuable company, can join the two biggies if its stock appreciates another 18 per cent from current levels.

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Meanwhile, has also become the world’s eight-biggest company. US-based (m-cap $350 billion) and Europe’s ($295 billion) are the world’s largest in terms of market cap. To be sure, most companies in the list are focused on upstream operations, while is primarily into downstream operations.


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Shares of RIL, up 18 per cent this year, have more steam left in them if valuations of global companies. The top 10 companies trade at price-to-earnings (P/E) multiple of around 25 times. RIL, on the other hand, currently trades at 19 times its trailing 12-month earnings.

Also, the during its previous peak in January 2008 traded at a P/E of 35 times.

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First Published: Fri, July 13 2018. 01:49 IST
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