RIL regains most valued status, TCS at second spot
Reliance Industries (RIL) today regained its status as the country's most valued firm with a market capitalisation of Rs 2.82 lakh crore as its shares rose nearly 4%, dethroning IT major TCS whose scrips declined over 5%.business Updated: Sep 17, 2012 19:07 IST
Reliance Industries (RIL) on Monday regained its status as the country's most valued firm with a market capitalisation of Rs 2.82 lakh crore as its shares rose nearly 4%, dethroning IT major TCS whose scrips declined over 5%.
With share prices of Reliance Industries Ltd (RIL) gaining 3.89% to Rs 873.65, the company's market value soared to Rs 2,82,672 crore. In a tale of contrasting fortunes, Tata Consultancy Services' market value stood at Rs 2,62,443 crore at the end of day as its shares slipped by 5.03% to Rs 1,340.90 on the BSE.
On August 1, RIL had toppled state-run oil company ONGC to become the country's most valued firm. On August 23, however, Reliance Industries lost its position of the country's most valued company to TCS.
Today, ONGC with a market cap of Rs 2,40,195 crore was at the third place, followed by Coal India (Rs 2,36,547 crore), and ITC (Rs 1,98,782 crore).
In 2006, RIL had toppled ONGC to emerge as the country's most valued firm and managed to stay on the top since then, except for a few brief periods in the last few months.
In last few month, there had been frequent changes in the top slot amid volatile market conditions.
With the rise in RIL's share price, the company also regained its position as the most influential stock on the Sensex, pushing FMCG major ITC to second place.
At close of trade, RIL commanded 9.88% weight, while ITC had 8.84% weight in the Sensex.