Mukesh Ambani’s RIL beats TCS to become most-valued company once again!

Shares of Reliance Industries (RIL) Friday rose over 2 percent helping the oil-to-telecom major pip Tata Consultancy Services (TCS) to become the most-valued company in terms of market capitalization. In afternoon trade on BSE, RIL’s market capitalization was 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.

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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 percent over its previous closing price. The stock is currently trading 2.56 percent higher at Rs 1,125.

The stock of TCS opened at 1,889.90 and touched an intra-day high and low of Rs 1,898.55 and 1,868, respectively, in trade so far. At 1330 hours, the scrip is trading at Rs 1,876.75, up 0.6 percent from the previous close. On August 31, this year, TCS had regained its status as the country’s most valued firm by market valuation surpassing RIL.