RIL briefly most-valued company

SHARES OF RIL have surged nearly 30% so far this year, while TCS’ has seen a dip of over 2% ONGC PIPS SBI to regain the most-valued PSU tag

New Delhi, April 21: TCS on Friday reclaimed its status as the country’s most valued firm by market capitalisation after Reliance Industries Ltd briefly replaced the IT behemoth from the top position.

At the end of trade on Friday, Tata Group’s crown jewel TCS commanded a m-cap of `4,55,405.31 crore. This was `299.98 crore more than RIL’s `4,55,105.33 crore valuation.

Earlier in the day, RIL had surged past TCS to clinch the title of mostvalued Indian firm.

However, at the end of trading session the IT major overtook the energy behemoth.

RIL had on Tuesday also briefly regained its status as India's top-valued firm, overtaking TCS.

Shares of TCS ended 0.74 per cent lower at `2,311.20 on BSE. During the day, it lost 1.13 per cent to `2,301.90.

RIL’s scrip rose by 2.22 per cent to end at `1,399.75. Intra-day, it gained 3.69 per cent to `1,420.

TCS had replaced RIL as the most valued firm more than four years ago but a sharp rally in the shares of the Mukesh Ambaniled firm in recent past has helped the company close the gap. Shares of RIL have surged nearly 30 per cent so far this year, while those of TCS have fallen by over 2 per cent.

In another upheaval in the market valuation charts, ONGC once again became the most-valued PSU, surging past SBI.

In the past few days, a game of musical chair was being played out between SBI and ONGC for the title of most-valued PSU. At end of trading session, ONGC’s m-cap stood at `2,30,869.90 crore, while that of SBI was `2,28,819.62 crore.

— PTI