Reliance climbs eight spots to 45th rank on Forbes' Global 2000 list
Billionaire Mukesh Ambani’s Reliance Industries Ltd climbed eight spots to the 45th rank, the highest for an Indian company on Forbes’ latest Global 2000 list of public companies worldwide.
An overview of the news
This achievement marks the highest position for an Indian company on the list.
The Global 2000 ranks public companies worldwide based on sales, profits, assets, and market value.
JPMorgan tops the list
JPMorgan, America's largest bank with $3.7 trillion in assets, has secured the top spot on the Global 2000 list.
This marks its first time at the top since 2011.
The bank's strong performance during the regional banking crisis, coupled with increased deposits and the opportunistic acquisition of the failed First Republic Bank, contributed to its ranking.
Warren Buffett's Berkshire Hathaway, which topped the list in the previous year, fell to the 338th position in the latest ranking.
This decline is attributed to unrealized losses in its investment portfolio.
Saudi Arabia's oil giant, Aramco, holds the second position on the list.
Indian firms on the list
Reliance Industries leads as the highest-ranked Indian company at the 45th spot.
Other notable Indian firms include State Bank of India at 77th, HDFC Bank at 128th, ICICI Bank at 163rd, and Tata Consultancy Services (TCS) at 387th.
A total of 55 Indian companies made it to the Global 2000 list, including Oil and Natural Gas Corporation (ONGC), HDFC, Life Insurance Corporation (LIC), and Tata Steel.
Gautam Adani's conglomerate firms
Three companies from Gautam Adani's conglomerate are included in the list. Adani Enterprises secured the 1062nd position, Adani Power is at 1488th, and Adani Ports & Special Economic Zones is at 1598th.
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