New Delhi: Reliance Industries regained its status as the country’s most valued firm by market capitalisation (m-cap) on Tuesday, replacing Tata Group’s crown jewel TCS from the top slot.
At close on BSE, RIL’s market valuation stood at Rs 7,51,414.89 crore, which is Rs 8,192.73 crore more than that of TCS’s Rs 7,43,222.16 crore m-cap.
TCS is now at the second position in m-cap ranking followed by HDFC Bank with an m-cap of Rs 5,75,185.44 crore, HUL (Rs 3,74,827.99 crore) and ITC (Rs 3,63,149.63 crore).
Shares of RIL rose by 3.14 per cent to close at Rs 1,185.85 on BSE. During the day, it surged 3.50 per cent to Rs 1,190 — its lifetime high. The scrip has been on a rising spree for past three sessions after impressive quarterly results.
The stock was the top gainer among the 30 Sensex blue chips. The stock of TCS ended flat at Rs 1,941.25, down 0.19 per cent.
On July 13, RIL’s m-cap had briefly surged past the Rs 7 lakh crore mark, making it the second company after Tata Consultancy Services (TCS) to achieve this milestone. Later on July 20, RIL’s market value surged past Rs 7 lakh crore for the second time in a week.
Reliance Industries shares rise by 2%
- Shares of Reliance Industries rose by 2% also after the company reported its highest ever quarterly net profit. TCS had first replaced RIL as the most valued firm more than five years ago.
- Reliance Industries had earlier this month crossed the USD 100-billion market capitalisation mark. So far this year, shares of RIL have surged nearly 29 per cent, while those of TCS slumped over 28%.