Since August 9, RIL shares have gone up by over 11 per cent.
Reliance Industries Ltd (RIL) on Monday raced past TCS to become the country’s most valued firm by market valuation. At close of trade on Monday, RIL’s market capitalisation (m-cap) stood at Rs 8,19,073.62 crore, which is Rs 7,226.43 crore more than that of Tata Consultancy Services’ (TCS) m-cap of Rs 8,11,847.19 crore on the BSE. Shares of RIL rose by 1.15 per cent to close at Rs 1,292.10 on the BSE, while those of TCS closed flat at Rs 2,163.55.
RIL shares have gained ground since the announcement of a host of investor-friendly proposals at its annual general meeting held early last week. Since August 9, RIL shares have gone up by over 11 per cent.
RIL and TCS have in the past also competed with each other for the number one position in terms of market capitalisation. In the domestic m-cap ranking, RIL was at number one position followed by TCS, HDFC Bank (Rs 6,03,371.38 crore), HUL (Rs 3,94,145.32 crore) and HDFC (Rs 3,64,763.82 crore) in the top-five list. The m-cap figure of companies changes daily with stock price movement.