Mukesh Ambani, chairman of Reliance Industries in New Delhi, India. (Photographer: Prashanth Vishwanathan/Bloomberg)
India’s most-valued company now relies on its consumer-facing businesses more than ever.Reliance Industries Ltd.—the first domestic company to reach Rs 9 lakh crore market capitalisation—now generates a third of its operating profit from retail and telecom units.The energy giant and the owner of the world’s largest crude oil refinery is not only India’s No. 1 retailer but also the nation’s biggest telecom operator. The combined share...