Tata Consultancy Services Monday surpassed Reliance Industries to become the most valued firm by market valuation. At close of trade, the market capitalisation (m-cap) of TCS was at Rs 8,37,194.55 crore, which was Rs 1,170.47 crore more than that of RIL’s Rs 8,36,024.08 crore on the BSE.
Shares of TCS rose by 2.39 per cent to close at Rs 2,231.10, while those of RIL closed flat at Rs 1,318.85, up 0.27 per cent on the BSE. Reliance Industries Ltd had last month reclaimed the status of the country’s most-valued firm in terms of market valuation, overtaking software services major TCS.
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, TCS was at number one position followed by RIL, HDFC Bank (Rs 6,66,533.49 crore), HUL (Rs 4,00,325.83 crore) and HDFC (Rs 3,78,236.52 crore). The m-cap figure of companies changes daily with the movement in their stock prices.