Reliance Industries shares zoom nearly 15%; reclaims most valued firm tag surpassing TCS

New Delhi: Shares of Reliance Industries Limited on Wednesday zoomed nearly 15 percent, reclaiming the tag of the most valued domestic firm by market valuation surpassing TCS. RIL’’s scrip jumped 14.65 percent to close at Rs 1,081.25 on the BSE. During the day, it advanced 22.25 percent to Rs 1,152. On the NSE, it rose sharply by 13.84 percent to close at Rs 1,074. The sharp rally in the shares helped the company’s market valuation zoom Rs 87,576.98 crore to Rs 6,85,433.30 crore on the BSE. [caption id=“attachment_4572901” align=“alignleft” width=“380”] Representational image. Reuters.[/caption] The heavyweight stock was the top gainer on both the key indices. Meanwhile, there were media reports that Facebook Inc was in talks to buy a stake in the company’s telecom unit, Jio. In traded volume terms, 1,176.09 lakh shares of the company were traded on the BSE and about 3.34 crore shares on the NSE during the day. RIL went ahead Tata Consultancy Services (TCS) in market cap ranking during the morning trade following a sharp rally in its share price. The market valuation of TCS was at Rs 6,57,492.85 crore at the close of trade on the BSE. Tata Consultancy Services had on March 18 went past Reliance Industries Limited to become the most valued Indian firm by market valuation. The BSE benchmark index closed 1,861.75 points higher at 28,535.78. RIL was the biggest contributor in the market rally. The m-cap figure of companies changes daily with the movement in their stock prices. (Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd which publishes Firstpost)