New Delhi: Tata Consultancy Services Ltd (TCS) on Friday surged past Reliance Industries Ltd (RIL) to emerge as the country’s most valued firm by market capitalisation. At close of trade on BSE on Friday, TCS market cap stood at ₹ 763,360.46 crore—₹ 307.42 crore more than that of RIL’s ₹ 763,053.04 crore valuation.
TCS shares ended 0.98% higher at ₹1,993.85 on the BSE on Friday, while those of RIL slipped 1.15% to close at ₹ 1,204.
TCS and RIL have been over the past few months swapping places, as far as highest market cap is concerned. On 1 August, TCS reclaimed the top rank from RIL that it had lost on 31 July, only to lose it again on 8 August. On 13 July, RIL’s market cap had briefly surged past the ₹7 trillion mark, making it the second company after TCS to achieve the milestone. On 20 July, RIL’s market value surged past ₹ 7 trillion for the second time in a week and has stayed above ₹ 7 trillion since then.
The IT major had first replaced RIL as the most-valued firm more than five years ago.
RIL had last month crossed the $100 billion market capitalisation mark.