TCS upstages RIL to reclaim most valued company status
Tata Consultancy Services on Wednesday surpassed Reliance Industries to reclaim the status of the country's most valued firm by market valuation.
At close of trade on Wednesday, the market capitalisation (m- cap) of TCS stood at Rs 4,63,287.02 crore, which was Rs 8,555.55 crore more than RIL's Rs 4,54,731.47 crore valuation. Shares of RIL declined by 2.60 per cent to end at Rs 1,398.50, while TCS went up by 0.23 per cent to close at Rs 2,351.20 on BSE.
RIL had on Friday surpassed Tata Group s TCS in terms of m-cap to become the country's most valued company.
But, its position at the top spot was short-lived as it slipped to the second spot in on Wednesday's trading session. Temporary ups and down in the valuation chart of the two firms were seen in April as well.
TCS had replaced RIL as the most valued firm more than four years ago, but a sharp rally in the shares of Mukesh Ambani-led firm in the recent past has helped the company to close the gap.