The fairly consistent run the stock enjoyed in positive territory in the past one year has resulted in Reliance Industries emerging as the most valued company in the Indian market.
Having gained close to 30% in the last one year, (since early February 2017, the stock has gained almost 35%) Reliance Industries has moved past IT heavyweight Tata Consultancy Services to claim the top spot in terms of market capitalisation. The market capitalisation of Reliance Industries now stands at almost 4.58 crore, slightly higher than the IT major's market capitalisation of a little over Rs 4.57 crore. Reliance Industries had slipped to the fourth spot in terms of market capitalisation in mid 2013.
At Rs 1408.40, slightly down from the day's high of Rs 1410, Reliance Industries is now up 1.2% from its previous closing price. The stock had hit a multi-year high of Rs 1448.90 on 6 April 2017.
With the company's telecom arm Reliance Jio's attractive data packages evoking overwhelming response from subscribers, the Reliance Industries stock saw some pretty bright spells in recent weeks. The stock contributed significantly to the gains of the Sensex and the Nifty50 in recent sessions.
After Reliance Industries and Tata Consultancy Services, HDFC Bank, ITC, HDFC, ONGC, Infosys, State Bank of India, Hindustan Unilever and Indian Oil Corporation are the other companies that figure in the list of top ones in terms of market capitalisation.
