TCS briefly surpasses RIL to become most valued firm; crosses Rs 6 -lakh cr m-cap mark

New Delhi: Tata Consultancy Services’ market valuation surged past the Rs 6 lakh crore mark on Wednesday, becoming the second company to achieve the milestone after Reliance Industries Ltd.

At the close of trade Wednesday, the market capitalisation (m-cap) of TCS stood at Rs 6,07,709.74 crore. Shares of the IT major rose by 2.30 percent to end at Rs 3,174.60 on BSE. Intra-day, it gained 4.88 percent to Rs 3,254.80 – its 52-week high.

The company had briefly surpassed RIL to become the country’s most valued firm in terms of market valuation during the afternoon trade on BSE.

RIL later regained its status as the most valued Indian firm with a market valuation of Rs 6,10,938.21 crore. Market valuation of Reliance Industries Ltd had crossed the Rs 6 lakh crore mark on 1 November last year.

Shares of RIL ended with a loss of 1.75 percent at Rs 964.55.

In the ranking of top-five firms in the m-cap chart, RIL remained at number one position followed by TCS, HDFC Bank (Rs 5,08,822.40 crore), ITC (Rs 3,43,161.36 crore) and HDFC (Rs 3,04,812.47 crore).

(Disclosure: Reliance Industries Ltd is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd)