Reliance Industries Limited pips TCS to become most valued firm

Vastavam web: Reliance Industries Limited (RIL) today pipped Tata Consultancy Services to become India’s most valued company in terms of market capitalisation. At the end of trade on BSE today, RIL commanded a market capitalisation of Rs 7,82,636.38 crore, while India’s largest IT firm by revenue TCS slipped to the second spot with a market capitalisation of Rs 7,69,696.75 crore.

Shares of RIL today opened at Rs 1,206.50, then gained further ground and touched its 52-week high level of Rs 1,238.05, up 2.87 per cent over its previous closing price. TCS on August 16 had pipped RIL to become the country’s most valued firm by market valuation, while on August 14 RIL had dethroned TCS. Before that on August 8, RIL had surpassed the IT major, while on August 1 TCS was the most valued firm.

In April this year, IT bellwether TCS had made history by becoming the first USD 100 billion IT company. RIL was the first to reach the USD 100 billion market cap way back in 2007. The m-cap figure of companies changes daily with stock price movement.