Mukesh replaces Premji as richest Indian

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Chardi Kala
Mukesh replaces Premji as India's richest

[ 15 Oct, 2006 1430hrs IST


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NEW DELHI: In a double-treat of sorts, Reliance Industries' emergence as India's most valued firm has also catapulted its Chairman and Managing Director Mukesh Ambani right on to the top of the country's richest list.

After toppling state-run energy giant ONGC as India's largest corporate house among listed entities after more than four years, RIL's market cap has further swelled to over Rs 1,65,000 crore taking Mukesh Ambani's net worth based on his shareholding in group companies to more than Rs 70,000 crore.

Ambani's elevation to the top of the country's richie-rich club has pushed Wipro's Azim Premji to the second position with a net worth of about Rs 64,700 crore.

The younger Ambani brother Anil's net worth has also soared after the recent record breaking rally in the stock market. Anil Ambani maintains his position as the country's third richest person with a net worth of over Rs 61,000 crore based on his shareholding in group companies.

The combined market value of Mukesh Ambani group companies -- RIL, Reliance Petroleum (RPL), IPCL and Reliance Industrial Infrastructure Ltd (RIIL) has soared to about Rs 2,04,000 crore.