IOC, Reliance advance in Fortune Global 500 list

Indian Oil Corporation (IOC) and Reliance Industries are understood to have climbed higher in the Fortune Global 500 rankings this year, capturing the 135th and 269th places respectively.

IOC is understood to have moved by 18 places to 135, the highest ranked Indian company in terms of sales, while Reliance climbed 75 notches to 269 to become the top ranked private Indian entity in the list published annually by the CNN-Time Warner group magazine.

Besides, four other Indian public sector companies in the global list have improved their rankings this year -- BPCL (325), HPCL (336), ONGC (369) and State Bank of India (495). SBI made its debut in the list last year.

Reliance is also believed to be among the 25 fastest climbers this year with a ranking of 23.

RIL is at the 299th position in the list in terms of assets and IOC at 380.

Last year, among the six Indian companies on the list, IOC had held the top rank at 153rd position, followed by RIL at 342, BPCL at 368, HPCL at 378, ONGC at 402 and SBI at 498.

In terms of profits, IOC was ranked at 249 behind Reliance Industries, which stood pretty at 179.