Shares of Reliance Industries (RIL) 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 afternoon trade on BSE, RIL’s market capitalisation was ₹7,14,573.46 crore, while India’s largest IT firm by revenue TCS slipped to the second spot with a valuation of ₹7,03,891.09 crore.
Shares of RIL opened at ₹1,096.10, then gained further ground and touched an intra-day high of ₹1,128.50, up 2.88 per cent over its previous closing price. The stock is currently trading 2.56 per cent higher at ₹1,125.
The stock of TCS opened at 1,889.90 and touched an intra-day high and low of ₹1,898.55 and 1,868, respectively, in trade so far. At 1330 hours, the scrip is trading at ₹1,876.75, up 0.6 per cent 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.