NEW DELHI: Software services major Tata Consultancy Services (TCS) on Thursday reclaimed the status of the country's most valued firm by market valuation, surpassing Reliance Industries Ltd (RIL).
RIL shares have been on a downhill, falling for the fourth day in a row on Thursday. In four days, the shares have plunged 10.79% to ₹1,255.15 on the BSE.
Following the plunge in its share price, RIL's market valuation dropped to ₹7,95,628.55 crore on the BSE.
"Reliance Industries is leading the massive fall in Nifty. It fell down for the fourth consecutive day after touching lifetime highs of ₹1,417," Samco Securities Head of Research Umesh Mehta said.
At the close of trade, the market capitalisation (m-cap) of TCS stood at ₹8,13,779.67 crore, which is ₹18,151.12 crore more than that of RIL's valuation.
The scrip of TCS closed at ₹2,168.70, up 0.75% on the BSE.
RIL and TCS have in the past also competed with each other for the number one position in terms of market capitalisation.
TCS is the country's most valued firm followed by RIL, HDFC Bank ( ₹6,24,362.11 crore), Hindustan Unilever ( ₹3,67,880.69 crore) and ITC ( ₹3,67,513.78 crore).
The m-cap figure of companies changes daily with stock price movement.
This story has been published from a wire agency feed without modifications to the text.