Mukesh Ambani may once again enter $100bn-club as RIL share price surges

RIL share price increased by around 14 percent in the past one month

Mumbai: India’s richest person and Chairman of Reliance Industries Limited (RIL) is likely to once again enter the $100bn-club as the conglomerate company’s share surges. His current net worth is $98.7 billion.

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RIL share price increased by around 14 percent in the past month. On February 25, the share price was Rs. 2, 283.95 which spiked to Rs. 2616 on March 25.

Why RIL share price surges?

The stock price is nearing its all-time high level of Rs. 2, 750. Singapore gross refining margin is one of the reasons behind the surge in the stock price.

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Apart from it, the company’s telecom business remained unaffected despite geopolitical tensions and inflations as the cellphone has become part of the essentials needs of the people.

Reliance Retail Ventures Limited is also performing well. Recently, it acquired an 89 percent stake in Purple Panda Fashions Private Limited.

Adani’s net worth too climbs

Meanwhile, Gautam Adani, founder and chairman of Adani Group and second richest person in India is also likely to enter the $100-bn club. Currently, his net worth is $96.2 billion.

The share prices of most of its companies have surged in recent days.

The conglomerate company is also exploring the possibility of making a partnership with Saudi Arabia’s Aramco.

Updated list of top 5 billionaires in India

The following is the list of the top five billionaires in India.

NameNet worthIndustry
Mukesh Ambani$98.7 BEnergy
Gautam Adani$96.2 BIndustrial
Shiv Nadar$28.9 BTechnology
Cyrus Poonawalla$24.7 BHealth Care
Radhakishan Damani$19.3 BRetail

The net worths of Shiv Nadar, Cyrus Poonawalla and Radhakrishan Damani are far behind the top two Indian billionaires.

On the other hand, Ambani and Adani are engaged in tug of war for the tag of ‘richest person in India’.

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