Mumbai: With a market valuation of over Rs6.11 trillion, the software major Tata Consultancy Services on Monday surpassed Reliance Industries (RIL) to become the country’s most valued firm in terms of market capitalisation.
At the close of trade on Monday, TCS’ market capitalization (m-cap) stood at Rs6,11,634.03 crore (Rs6.11 trillion), which is Rs1,170.86 crore more than RIL’s Rs6,10,463.17 crore.
Shares of TCS rose by 2.48% to end the day at Rs3,195.10 on the BSE, while RIL shares fell by 0.08% to Rs963.80.
In the ranking of top-five firms on the m-cap chart, TCS took the number one position followed by RIL, HDFC Bank at Rs5.18 trillion, ITC with Rs3.36 trillion m-cap and HDFC at Rs3.12 trillion.
On 24 January this year, TCS’ market valuation had surged past the Rs6 trillion, making it the second company to achieve the milestone after RIL but still trailing the Mukesh Ambani firm.
It can be noted that since 2013, TCS was the most valued firm in terms of M-cap with over Rs4 trillion delegating RIL to the second slot. However, on 21 April, 2017, RIL overtook TCS to regain the most valued firm tag after a gap of almost four years with an m-cap of Rs4.60 trillion. Since then both the companies gained and crossed the Rs6-trillion tag in December last.