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.