New Delhi: Reliance Industries Ltd today reclaimed its status as the country's most valued firm by market capitalisation (m-cap) after a gap of four years, replacing IT major TCS from the top position.
At the end of trade today, RIL commanded a market valuation of Rs 4,60,518.80 crore. This was Rs 1,586.43 crore more than TCS' Rs 4,58,932.37 crore m-cap. Shares of both the companies ended on a positive note but gains were sharper in case of RIL.
The RIL scrip ended the day with a gain of 1.19 per cent at Rs 1,416.40 on BSE. TCS also rose by 0.77 per cent to close at Rs 2,329.10. TCS had replaced RIL as the most valued firm more than four years ago but a sharp rally in the shares of the Mukesh Ambani-led firm in recent past has helped the company close the gap.
Temporary ups and downs in the valuation chart of the two firms were seen last week as well. RIL had briefly surged past TCS twice to become the most valued company.
However, at close of the session on Tuesday and Friday the IT major had reclaimed the top position. The RIL stock has surged over 31 per cent so far this year, while that of TCS had slipped more than 1 per cent. The m-cap figure changes daily with stock price movement.