Mumbai: Shares of Reliance Industries Ltd (RIL) on Monday surged nearly 4% helping the company regain its position as the country’s most valued company from software firm Tata Consultancy Services (TCS). The RIL scrip also crossed its buyback threshold limit of Rs 870 for the first time since February.
As the share price of Reliance Industries Ltd (RIL) gained 3.89% to close at Rs 873.65 on Monday, the company’s market value soared to Rs 2,82,672 crore -- above that of TCS’ Rs 2,62,443 crore.
According to information available with the stock exchanges, Mukesh Ambani-led RIL has so far purchased shares worth Rs 3,198.35 crore through the open market route under its share buyback offer launched early this year. This translates to about 30.63% of the Rs 10,440 crore earmarked by the company for buyback of shares. PTI