Reliance Industries on Wednesday surpassed IT major TCS to clinch the status of the most valued company by market capitalisation.
At close of trade on Wednesday, RIL’s market valuation stood at Rs 7.71 trillion, which was Rs 154.59 billion more than Tata Consultancy Services’ Rs 7.55 trillion m-cap on the BSE.
Shares of RIL jumped 2.85 per cent to close at a life-time high of Rs 1,217.25 on BSE. During the day, shares of the company gained 3.24 per cent to Rs 1,222 apiece.
On the other hand, shares of TCS ended flat at Rs 1,974.60, up 0.33 per cent.
On July 31, 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, TCS on August 1 reclaimed the country’s most valued firm status by market cap, pushing Reliance Industries Ltd to the second spot.
IT major TCS 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 July 13, RIL’s m-cap had briefly surged past the Rs 7 trillion mark, making it the second company after Tata Consultancy Services (TCS) to achieve this milestone.
Later on July 20, RIL’s market value surged past Rs 7 trillion for the second time in a week.
The m-cap figure of Companies changes daily with stock price movement.