Mumbai: Leading telecom company Reliance Communications became the fifth most valued firm on the bourses on 4 July, with a market capitalisation of over Rs1,10,000 crore that places it ahead of IT majors Infosys and TCS.
The Anil Ambani group firm’s scrip gained 1% to end at Rs541.95 taking its market cap to Rs1,10,808.18 crore, ahead of Infosys’ Rs1,10,415.82 crore and the Tata group entity’s Rs1,09,334.09 crore.
Reliance Industries with a market valuation of Rs2,30,000 crore is the most valued firm on the bourses followed by PSU major ONGC at Rs1,86,000 crore and telecom giant Bharti Airtel at Rs1,63,000 crore.
NTPC enjoys the fourth position in terms of market cap at Rs1,28,000 crore.
In May, RCom, ranked among Asia’s six top most valuable telecom companies, had added a record 1.4 million subscribers to its mobile network. Overall, the company has a customer base of over 35 million including over one million individual overseas retail customers.