Reliance Industries pips TCS to become most-valued Indian company again

By Selene 0

New Delhi: Mukesh Ambani-led Reliance Industries on Friday regained its status as India’s most valued firm by market capitalisation, overtaking Tata Group’s crown jewel TCS.

Shares of RIL were trading 3.43% higher at Rs 1,416.40 on BSE at 12.36pm, giving the company a market capitalisation of Rs 4,60,291.20 crore—the highest for any listed firm in the country. This was Rs3,151.92 crore more than TCS’s Rs4,57,139.28 crore valuation at the time.

The scrip of TCS was quoting 0.33% lower at Rs 2,320.65. Reliance Industries had on Tuesday briefly regained its status as India’s top-valued firm, overtaking TCS.

TCS had replaced RIL as the most valued firm more than four years ago but a sharp rally in the shares of the Mukesh Ambani-led firm in recent past has helped the company close the gap.

Shares of RIL have surged nearly 27%, while those of TCS have fallen by over 1% so far this year.

First Published: Fri, Apr 21 2017. 02 43 PM IST

Source: Livemint.com