Saturday, 24 June 2017

RIL overtakes TCS to become Top Indian firm

After a gap of 2-months, Reliance Industries Ltd (RIL) on Friday regained the status of the country's most valued firm, overtaking Tata Group’s Tata Consultancy Services (TCS) in terms of market valuation.

At close of trade, RIL commanded a market capitalisation (m-cap) of Rs 4,66,599.69 crore, which was Rs 1,450.62 crore more than TCS' Rs 4,65,149.07 crore valuation.

Shares of RIL ended flat at Rs 1,435, up 0.13 percent, while Tata Consultancy Services fell by 1.47 percent to close at Rs 2,360.65 on BSE.

So far this year, shares of RIL have gained nearly 33 percent, while TCS is trading flat, down 0.05 percent.

TCS had replaced RIL as the most valued firm more than four years ago but a sharp rally in the shares of the Mukesh Ambani-led firm in the recent past has helped the company close the gap.

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