RIL briefly overtakes TCS to become most-valued listed company
New Delhi: Mukesh Ambani-led Reliance Industries on Friday 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% higher at Rs 1,416.40 on BSE at 12.36pm, giving the company a market capitalisation of Rs 4,60,291.20 crore—the highest for any listed firm in the country.
However, the Reliance Industries shares erased some of the early gains to close at Rs1,399.75, up 2.22% on BSE.
The TCS shares closed down 0.74% at Rs2,311.20
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 recent past has helped the company close the gap.
Shares of RIL have surged nearly 27%, while those of TCS have fallen by over 1% so far this year.