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Reliance Industries Ltd overtakes TCS as most valued Indian firm
After a gap of 2-months, Reliance Industries Ltd (RIL) on Friday regained the status of the country’s most valued firm, overtaking Tata Group’s TCS in terms of market valuation. At close of trade, RIL commanded a market capitalisation (m-cap) of Rs 4,66,599.69 crore, which was Rs 1,450.62 crore more than TCS’ Rs 4,65,149.07 crore valuation.
New Delhi : After a gap of 2-months, Reliance Industries Ltd (RIL) on Friday regained the status of the country’s most valued firm, overtaking Tata Group’s TCS in terms of market valuation. At close of trade, RIL commanded a market capitalisation (m-cap) of Rs 4,66,599.69 crore, which was Rs 1,450.62 crore more than TCS’ Rs 4,65,149.07 crore valuation.
Shares of RIL ended flat at Rs 1,435, up 0.13 per cent, while TCS fell by 1.47 per cent to close at Rs 2,360.65 on BSE. So far this year, shares of RIL have gained nearly 33 per cent, while TCS is trading flat, down 0.05 per cent.
Temporary ups and down in the valuation chart of the two firms were seen in April as well.On April 24, RIL had managed to close the trading session as the most valued firm.
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. The m-cap figure changes daily with the stock price movement.
According to market sources, mutual funds marginally raised their stakes in RIL, while they cut their exposure in TCS. Insurance companies, led by LIC, reduced their exposure in RIL, while they sought value-buying opportunity in TCS.
