Reliance Industries regains most valued co status; pushes TCS to second spot

New Delhi: Reliance Industries on Wednesday regained the status of the country’s most valued firm in terms of market valuation, surging past IT major Tata Consultancy Services (TCS). At the close of trade on Wednesday, RIL’s market capitalisation (m-cap) stood at Rs 6,08,804.91 crore, which was Rs 13,126.47 crore more than TCS’ Rs 5,95,678.44 crore valuation, as per BSE data. [caption id=“attachment_4226039” align=“alignleft” width=“380”] Representational image. Reuters.[/caption] Shares of RIL rose by 1.25 percent to end at Rs 961.15 on BSE, while those of TCS fell by 1.33 percent to Rs 3,111.75. On Monday, TCS had surpassed RIL to become the country’s most valued firm in terms of market cap. Decline in shares send TCS m-cap below Rs 6 lakh crore mark on Wednesday. On January 24 this year, TCS’ market valuation had surged past Rs 6 trillion mark, making it the second company to achieve the milestone after RIL. In the ranking of top-five firms on the m-cap chart, RIL stood at number one position followed by TCS, HDFC Bank (Rs 5,20,059 crore), ITC (Rs 3,30,739.81 crore) and HDFC (Rs 3,12,440.97 crore). (Disclosure - Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd)