TCS races past RIL by Rs 8,500 cr to reclaim status as most valued company
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Tata Consultancy Services on Wednesday surpassed Reliance Industries to reclaim the status of the country's most valued firm by market valuation.
At close of trade today, the market capitalisation (m- cap) of TCS stood at Rs 4,63,287.02 crore, which was Rs 8,555.55 crore more than RIL's Rs 4,54,731.47 crore valuation.
Shares of RIL declined by 2.60 per cent to end at Rs 1,398.50, while TCS went up by 0.23 per cent to close at Rs 2,351.20 on BSE.
RIL had on Friday surpassed Tata Group's TCS in terms of m-cap to become the country's most valued company.
But, its position at the top spot was short-lived as it slipped to the second spot in today's trading session. Temporary ups and down in the valuation chart of the two firms were seen in April as well.
On April 24, RIL had managed to close the trading session as the most valued firm.
TCS had replaced RIL as the most valued firm more than four years ago, but a sharp rally in the shares of Mukesh Ambani-led firm in the recent past has helped the company to close the gap. The m-cap figure changes daily with the stock price movement.
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