Five years ago, Reliance Industries Ltd (RIL) was a zero-debt company sitting on cash reserves of nearly $20 billion. The core business of the oil-to-plastics company was growing on the back of robust refining margins. Also Read: Reliance Jio sets the cat among the pigeonsDone right, diversifications have been known to pay off. Of course, just as there is risk in diversifications, companies focused on a single business are equally vulnerable to market risks. While many Indian business leaders claimed to have been influenced by his thinking, very few followed his advice.

Source: Mint September 06, 2016 08:03 UTC