Reliance Industries races past TCS to become most valued firm again

New Delhi: Reliance Industries Limited (RIL) on Tuesday once again dethroned TCS to clinch the title of the most valued Indian company by market valuation. At close of trade on BSE on Tuesday, RIL’s market capitalisation (m-cap) stood at Rs 7,67,457.71 crore, which is Rs 1,264.1 crore more than that of Tata Consultancy Services’ Rs 7,66,193.61 crore. Shares of RIL rose by 2 percent to settle at Rs 1,210.95 on BSE, while that of TCS ended flat at Rs 2,001.25 – up barely 0.04 percent. TCS had on 10 August surged past RIL to emerge as the country’s most valued firm by market valuation. Before that on 8 August, RIL had surpassed the IT major. Over the past few days, TCS and RIL have been vigorously competing for the title of the most-valued firm. [caption id=“attachment_4368063” align=“alignleft” width=“380”]  Representational image. Reuters.[/caption] On 31 July, Reliance Industries had regained its status as the country’s most valued firm by m-cap, replacing Tata Group’s crown jewel TCS from the top slot. However, on 1 August TCS reclaimed the status. The IT major had first replaced RIL as the most-valued firm more than five years ago. Reliance Industries had last month crossed the $100-billion market capitalisation mark. On 13 July, RIL’s m-cap had briefly surged past the Rs 7 lakh crore mark, making it the second company after TCS to achieve the milestone. Later on 20 July, RIL’s market value surged past Rs 7 lakh crore for the second time in a week. The m-cap figure of companies changes daily with stock price movement. (Disclosure: Reliance Industries Ltd is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd)