TCS today reclaimed its status as the country's most valued firm by market capitalisation after Reliance Industries briefly replaced the IT major from the top position.
TCS today reclaimed its status as the country’s most valued firm by market capitalisation after Reliance Industries briefly replaced the IT major from the top position. At the end of trade today, Tata Group’s crown jewel TCS commanded a market valuation of Rs 4,55,405.31 crore. This was Rs 299.98 crore more than RIL’s Rs 4,55,105.33 crore valuation.
Earlier in the day, RIL had surged past TCS to clinch the title of most-valued Indian company. However, at the end of trading session the IT major overtook the energy behemoth. Reliance Industries had on Tuesday also briefly regained its status as India’s top-valued firm, overtaking TCS.
Shares of TCS ended 0.74 per cent lower at Rs 2,311.20 on BSE. During the day, it lost 1.13 per cent to Rs 2,301.90. RIL’s scrip rose by 2.22 per cent to end at Rs 1,399.75. Intra-day, it gained 3.69 per cent to Rs 1,420. 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.
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Shares of RIL have surged nearly 30 per cent so far this year, while those of TCS have fallen by over 2 per cent. In another upheaval in the market valuation charts, ONGC once again became the most-valued PSU, surging past SBI. In the past few days, a game of musical chair was being played out between SBI and ONGC for the title of most-valued PSU.
At end of trading session, ONGC’s market valuation stood at Rs 2,30,869.90 crore, while that of SBI was Rs 2,28,819.62 crore. Shares of ONGC ended 0.25 per cent higher at Rs 179.90, while SBI fell by 0.97 per cent to Rs 282.15.
SBI on Tuesday for the first time toppled ONGC as the most-valued PSU. State Bank of India yesterday yet again surpassed energy behemoth ONGC to become the country’s most- valued PSU by market valuation.