Reliance Regains its Position of Being the Most Valued Company in M-cap by Replacing TCS
On Tuesday Reliance Industries Ltd. (RIL) reclaimed its position and became the most valued firm by market capitalization (m-cap) in the country. Reliance have pushed Tata consultancy Services (TCS) on back foot from the top slot. On the day of succession the afternoon trade on BSE, Reliance market valuation stood at 7,47,676.35 crore, which is 8,378.48 crore more than that of TCS’ 7,39,297.87 crore market capitalization. Shares of Reliance were up with 2.75 per cent to 1,181.35 it’s the lifetime hike on BSE on July 31. On the other hand the shares of TCS went down by 0.79 per cent to 1,929.55. Five years back RIL was replaced by TCS as the most valued market capitalization firm. And so far in the year TCS went 28.5 per cent low whereas the RIL went 28.5 per cent high.
The Market capitalization of the companies changes on daily basis with the movement in the stock market. RIL in starting of the month had crossed the $100-billion market capitalization. This is a very hard time for the Tata group as the Tata motors is also not doing well in stock market so far.