Shares of Tata Consultancy Services Ltd fell 1 per cent to Rs 3,369.8, and the company’s market capitalisation stayed below the $100-billion mark hit on Monday.

TCS became the first Indian technology co to enter the elite league, powered by record quarterly profit and weaker rupee.

Energy-to-telecom conglomerate Reliance Industries Ltd could possibly be the next Indian firm to hit the $100-billion mark, provided it gains about 12 per cent from Monday's close of Rs 936. Reliance shares rose nearly 2 per cent to Rs 958.50.

TCS has risen about 26 per cent this year, while Reliance has gained only 1.6 per cent this year until Monday.

Reliance is estimated to report a record quarterly consolidated profit of about Rs 9,500 crore ($1.43 billion) this Friday, according to estimates from analysts covered by Thomson Reuters, about 18 per cent higher than last year.

Reliance, led by India's richest man Mukesh Ambani, had earlier breached the $100-billion mark way back in 2007, when the rupee was stronger at around 40 per dollar.

The market caps of TCS' smaller rivals, including Wipro Ltd and Infosys Ltd, are below $50 billion.

Of the 38 analysts covering Reliance, 28 recommended 'buy' or higher ratings with a median target price of Rs 1,053, according to Thomson Reuters Eikon data, while 19 out of 45 analysts have 'buy' or higher rating for TCS with median a target price of Rs 3,215.

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