Mukesh Ambani-led Reliance Industries (RIL) surpassed Tata group’s Tata Consultancy Services (TCS) to become India's most valuable company in terms of market capitalisation (m-cap) in intra-day trade.
RIL, with the m-cap of Rs 457,641 crore was ahead of TCS, which had a m-cap of Rs 457,386 crore at 09.37 am, the BSE data shows. RIL was trading 1.2% higher at Rs 1,407.50, while TCS was flat at Rs 2,321.40.
RIL, however, trimmed gains as trade progressed and slipped to the No. 2 spot. At 09:51 am; TCS reclaimed the at number one position with m-cap of Rs 457,099 crore. RIL m-cap stood at Rs 456,682 crore, data show.
Thus far in the calendar year 2017, RIL has outperformed the market by surging 30% as compared to 11.4% rise in the S&P BSE Sensex. The technology major TCS, however, has underperformed by falling 1.7% during this period.
TCS to announce Q4 results today
Tata Group owned TCS is set to announce its results for the fourth quarter ended March 2017 (Q4FY17), and full financial year 2016-17 (FY17) numbers today.
ICICI Securities expect EBIT margins to be flattish for TCS, led by currency headwind offset by operational efficiency. We would be monitoring how IT companies manage margins in the wake of increased US local hiring amid maintaining utilisation.
US dollar revenues may grow 1.2% q-o-q to $4,439.6 million, led by BSFI and some uptick in retail vertical. Constant currency may grow around 1.5% q-o-q while rupee revenues may decline 0.1% to Rs 29,701 crore. EBIT margins may remain unchanged q-o-q to 26% owing to operational efficiency offset by currency headwind. FY18E outlook and margin guidance, IT budget spend pattern, traction in digital business and attrition are among the key things to watch out for, the brokerage firm said in a report. CLICK HERE FOR BROKERAGES VIEW
Meanwhile, RIL is schedule to announce its Q4FY17 and FY17 numbers on Monday, April 24, 2017.
RIL, with the m-cap of Rs 457,641 crore was ahead of TCS, which had a m-cap of Rs 457,386 crore at 09.37 am, the BSE data shows. RIL was trading 1.2% higher at Rs 1,407.50, while TCS was flat at Rs 2,321.40.
RIL, however, trimmed gains as trade progressed and slipped to the No. 2 spot. At 09:51 am; TCS reclaimed the at number one position with m-cap of Rs 457,099 crore. RIL m-cap stood at Rs 456,682 crore, data show.
Thus far in the calendar year 2017, RIL has outperformed the market by surging 30% as compared to 11.4% rise in the S&P BSE Sensex. The technology major TCS, however, has underperformed by falling 1.7% during this period.
TCS to announce Q4 results today
Tata Group owned TCS is set to announce its results for the fourth quarter ended March 2017 (Q4FY17), and full financial year 2016-17 (FY17) numbers today.
ICICI Securities expect EBIT margins to be flattish for TCS, led by currency headwind offset by operational efficiency. We would be monitoring how IT companies manage margins in the wake of increased US local hiring amid maintaining utilisation.
US dollar revenues may grow 1.2% q-o-q to $4,439.6 million, led by BSFI and some uptick in retail vertical. Constant currency may grow around 1.5% q-o-q while rupee revenues may decline 0.1% to Rs 29,701 crore. EBIT margins may remain unchanged q-o-q to 26% owing to operational efficiency offset by currency headwind. FY18E outlook and margin guidance, IT budget spend pattern, traction in digital business and attrition are among the key things to watch out for, the brokerage firm said in a report. CLICK HERE FOR BROKERAGES VIEW
Meanwhile, RIL is schedule to announce its Q4FY17 and FY17 numbers on Monday, April 24, 2017.