LIC breaks to top-ranked Indian firm on Fortune Global 500 List

Even though LIC shares could not give the returns as expected, but maybe this news might make investors feel better. 

Recently-listed Life Insurance Corporation (LIC) has broken into the latest Fortune Global 500 list, while Reliance Industries has jumped 51 places.

The nation's biggest life insurer with revenue of USD 97.26 billion and a profit of USD 553.8 million, was ranked 98th on the just released Fortune 500 list.

LIC topped the list of companies from India, followed by eight other domestic firms. 

Reliance Industries jumped 51 places to 104 on the 2022 list.

Walmart landed at No. 1 for the ninth straight year, trailed by Amazon, which reached its highest ranking ever.