TCS Topples Reliance Industries To Become India’s Most Valued Listed Firm
The market capitalisation of TCS stood at Rs 8,13,779.67 crore, which is Rs 18,151.12 crore more than that of RIL’s valuation.
Software services major Tata Consultancy Services Ltd. reclaimed the status of the country’s most valued firm by market valuation, surpassing Mukesh Ambani’s Reliance Industries Ltd.
Reliance Industries 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 percent to Rs 1,255.15 on the Bombay Stock Exchange. Following the plunge in its share price, its market valuation dropped to Rs 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 Rs 1,417,” Samco Securities Head of Research Umesh Mehta said.
At the close of trade, the market capitalisation of TCS stood at Rs 8,13,779.67 crore, which is Rs 18,151.12 crore more than than Reliance’s.
The scrip of TCS closed at Rs 2,168.70, up 0.75 percent on the BSE.
Reliance Industries 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 Reliance Industries, HDFC Bank Ltd. (Rs 6,24,362.11 crore), Hindustan Unilever Ltd. (Rs 3,67,880.69 crore) and ITC Ltd. (Rs 3,67,513.78 crore).
The m-cap figure of companies changes daily with stock price movement.