LIC overtakes Reliance, this time 9 companies from India got a place
Fortune Global 500 List: LIC overtakes Reliance, this time 9 companies from India got a place
Even though the performance of LIC, which was recently listed in the stock market, has not been special so far, it has left all other Indian companies miles behind in the Fortune Global 500 list. Even India's largest listed company Reliance Industries has lagged far behind LIC.
LIC has got a place in the Fortune Global 500 list for the first time. This time 9 companies from India have got a place on the list. Of these, 5 companies are government, while the remaining 4 companies are private. LIC has been ranked 98th in this list prepared on the basis of revenue. The company has been ranked first in India with about $ 97.27 billion in revenue and $ 553.8 million in profit.
Reliance Industries is included in second place from India in the Fortune Global 500 list. Reliance Industries has been a part of this list continuously for the last 19 years. On a global basis, Reliance is ranked 104th with $93.98 billion in revenue and $8.15 billion in net profit. The ranking of Reliance Industries has improved by 51 places as compared to last year.
Apart from LIC and Reliance Industries, among the Indian companies that have managed to make it to the list, SBI is the only name from the banking sector. SBI has managed to get 236th rank by jumping 17 places. At the same time, two Tata group companies Tata Motors and Tata Steel have also found a place on the list. Tata Motors of the Tata Group has been ranked 370. Similarly, Tata Steel has managed to get 435th position.
Among the companies that managed to make it to this list from India, the state-owned oil company Indian Oil is at 142nd position. The company's ranking has improved 28 places from a year ago. On the other hand, another state-owned company ONGC has managed to get the 190th rank by jumping 16 places.
BPCL has been ranked 295 in the public sector itself. There has been an improvement of 19 places in the ranking of BPCL as compared to last year.
Two of the top-5 companies on the list are from America, while 3 companies from China have managed to make it to the top 5. American retailer company Wallmart has topped this list for the 9th year in a row. The second place went to Amazon, the company of Jeff Bezos. This is Amazon's best rating ever.
China's State Grid Corporation of China has been ranked third in this year's list, while China National Petroleum Corporation has got fourth place. China's Sinopec Group ranks fifth on the list. Saudi Aramco of Saudi Arabia has got a sixth place on the list. Companies like Volkswagen, China State Construction Engineering, and CVS Health have also featured in the top 10.
The total sales of 500 companies included in the list increased by 19% to $37.8 trillion during this period. This is the most impressive growth in sales for the top 500 companies in any one year.