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Reliance Industries (RIL) has become the most valued company in terms of market capitalisation, as the company’s shares rose over 2% during the Friday trading session and helped the oil-to-telecom major surpass Tata Consultancy Services (TCS).
At the time the trading closed, RIL’s market capitalisation stood at Rs 7.12 Trillion, meanwhile, India’s largest IT firm by revenue TCS dropped to the second spot with a valuation of Rs 7.09 Trillion.
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% over its previous closing price. The stock closed at 2.57% higher at Rs 1,125.
The stock of TCS opened at 1,889.90 and touched an intraday high and low of Rs 1,898.55 and 1,868, respectively. The scrip closed at Rs 1,889, up 0.86% 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.
