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Shares of Reliance Industries (RIL) on 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 the afternoon trade, RIL’s market capitalisation touched 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 higher by 2.49 per cent at Rs 1,124.20.
TCS shares opened at 1,889.90 and touched an intra-day high and low of Rs 1,898.55 and 1,868, respectively. At 2.05 pm local time, the shares were trading up 0.72 per cent at Rs 1,879. On August 31, this year, TCS had regained its status as the country’s most valued firm by market valuation surpassing RIL.
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