RIL PIPS TCS TO BECOME MOST VALUED COMPANY

New Delhi, July 31: Reliance Industries on Tuesday regained its status as the country’s most valued firm by market capitalisation ( m- cap), replacing Tata Group’s crown jewel TCS from the top slot.

At close on BSE on Tuesday, RIL’s market valuation stood at ` 7,51,414.89 crore, which is ` 8,192.73 crore more than that of TCS’ ` 7,43,222.16 crore m- cap.

TCS is now at the second position in m- cap ranking followed by HDFC Bank with an m- cap of ` 5,75,185.44 crore, HUL (` 3,74,827.99 crore) and ITC (` 3,63,149.63 crore).

Shares of RIL rose by 3.14 per cent to close at ` 1,185.85 on BSE.

During the day, it surged 3.50 per cent to ` 1,190 — its lifetime high. The scrip has been on a rising spree for past three sessions after impressive quarterly results.

The stock was the top gainer among the 30 Sensex blue chips. The stock of TCS ended flat at ` 1,941.25, down 0.19 per cent. Shares of RIL rose by 2 per cent on Monday also after the company reported its highest ever quarterly net profit.

TCS had first replaced RIL as the most valued firm more than five years ago. RIL had earlier this month crossed the $ 100billion market capitalisation mark. So far this year, shares of RIL have surged nearly 29 per cent, while those of TCS slumped over 28 per cent.

On July 13, RIL’s m- cap had briefly surged past the ` 7 lakh crore mark, making it the second company after TCS to achieve this milestone. — PTI