Reliance Industries Ltd (RIL) has reportedly raced past TCS to become the country’s most valued firm by market valuation.
At close of trade , RIL’s market capitalisation (m-cap) stood at Rs 8,19,073.62 crore, which is Rs 7,226.43 crore more than that of Tata Consultancy Services’ (TCS) m-cap of Rs 8,11,847.19 crore on the BSE.
Shares of RIL rose by 1.15 percent to close at Rs 1,292.10 on the BSE, while those of TCS closed flat at Rs 2,163.55.
RIL shares have gained ground since the announcement of a host of investor-friendly proposals at its annual general meeting held early last week.
Since 9 August, RIL shares have gone up by over 11 percent.
RIL and TCS have in the past also competed with each other for the number one position in terms of market capitalisation.