Mukesh Ambani's RIL becomes sixth largest global energy firm by market cap. Amazon invests another $630mn in India business.
King of the Jungle: Mukesh Ambani's Reliance Industries Limited has become the sixth largest global energy firm by market cap, overtaking British oil major BP Plc.
RIL today hit a market cap of $130.76bn vs BP Plc’s $128bn. Interestingly however, RIL’s rise in market cap was largely on the back of its retail and telecom businesses. Livemint
Ecommerce giant Amazon has invested another $630mn in three of its Indian businesses, Amazon Pay, Amazon Retail and Amazon Sellers as it plans to take on its local rival, Flipkart.
As per the regulatory filings made to the Corporate Affairs Ministry, two entities - 'Amazon Corporate Holdings' and 'Amazon.Com.Incs Ltd' are pumping in INR3,400cr in Amazon Seller Services (marketplace unit), INR900cr in Amazon Pay (India) (payments arm) and INR172.5cr in Amazon Retail India (food retail business). Moneycontrol
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