Thanks to its acquisition of the Corus group, Tata Steel has made it to the Fortune 500 list even as India's largest corporate Reliance Industries climbed 63 places up to 206th rank. Companies qualify to the list on the basis of their revenues.
Ratan Tata's Tata Steel has also been named as the company with the highest revenue growth of over 353 per cent over the past year, thanks to the consolidation of Corus' revenues with its balance sheet.
Among all the Indian companies, Mukesh Ambani's Reliance Industries (RIL) is ranked second after government-owned Indian Oil. Bharat Petroleum (BPCL), Hindustan Petroleum (HPCL), ONGC and State Bank of India (SBI) are the other Indian companies that figure on the list.
SBI is the seventh biggest climber among all the global companies, while RIL and BPCL have been ranked 23rd and 50th in terms of gains from the previous year rankings. The rankings are based on 2007 audited revenues.
