The Mukesh Ambani-led Reliance Industries today regained its status as India’s most valued firm by market capitalisation, overtaking Tata Group’s crown jewel TCS.
Shares of RIL were trading 3.43 per cent higher at Rs 1,416.40 on BSE at 1236 hrs, giving the company a market capitalisation (m-cap) of Rs 4,60,291.20 crore — the highest for any listed firm in the country. This was Rs 3,151.92 crore more than TCS’ Rs 4,57,139.28 crore valuation at the time.
The scrip of TCS was quoting 0.33 per cent lower at Rs 2,320.65.
Reliance Industries had on Tuesday briefly regained its status as India’s top-valued firm, overtaking TCS.
TCS had replaced RIL as the most valued firm more than four years ago but a sharp rally in the shares of the Mukesh Ambani-led firm in the recent past has helped the company close the gap.
Shares of RIL have surged nearly 27 per cent, while those of TCS have fallen by over 1 per cent so far this year.