Reliance pips TCS to become most-valued firm

New Delhi: Shares of Reliance Industries (RIL) Friday rose over 2 per cent helping the oil-to-telecom major pip Tata Consultancy Services (TCS) to become the most-valued company in terms of market capitalisation.

In afternoon trade on BSE, RIL’s market capitalisation was Rs 7,14,573.46 crore, while India’s largest IT firm by revenue TCS slipped to the second spot with a valuation of Rs 7,03,891.09 crore.

Shares of RIL opened at Rs 1,096.10, then gained further ground and touched an intra-day high of Rs 1,128.50, up 2.88 per cent over its previous closing price. The stock is currently trading 2.56 per cent higher at Rs 1,125.

The stock of TCS opened at 1,889.90 and touched an intra-day high and low of Rs 1,898.55 and 1,868, respectively, in trade so far. At 1330 hours, the scrip is trading at Rs 1,876.75, up 0.6 per cent from the previous close.

On August 31, this year, TCS had regained its status as the country’s most valued firm by market valuation surpassing RIL.