Reliance pips TCS to become most-valued firm1 min read . Updated: 16 Nov 2018, 02:19 PM IST
In afternoon trade on BSE, RIL's market capitalisation was ₹7,14,573.46 crore, while India's largest IT firm by revenue TCS slipped to the second spot with a valuation of ₹7,03,891.09 crore
New Delhi: Shares of Reliance Industries (RIL) Friday rose over 2% helping the oil-to-telecom major pip Tata Consultancy Services (TCS) to become the most-valued company in terms of market capitalisation.
In afternoon trade on BSE, RIL’s market capitalisation was ₹ 7,14,573.46 crore, while India’s largest IT firm by revenue TCS slipped to the second spot with a valuation of ₹ 7,03,891.09 crore.
Shares of RIL opened at ₹ 1,096.10, then gained further ground and touched an intra-day high of ₹ 1,128.50, up 2.88% over its previous closing price. The stock is currently trading 2.56% higher at ₹ 1,125.
The stock of TCS opened at 1,889.90 and touched an intra-day high and low of ₹ 1,898.55 and 1,868, respectively, in trade so far. At 1330 hours, the scrip is trading at ₹ 1,876.75, up 0.6% from the previous close.
On August 31, this year, TCS had regained its status as the country’s most valued firm by market valuation surpassing RIL.