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TCS becomes most valued IT firm
The Tata entity moves ahead of Infosys and is now 3rd in terms of market capitalisation, behind ONGC and RIL.
Tata Consultancy Services on Tuesday toppled IT major Infosys to become the country's most valued IT firm.
The Tata entity moved ahead with a market capitalisation of Rs 1,22,858.34 crore as against Infosys' Rs 1,22,256.21 crore on the Bombay Stock Exchange.
The company has moved to an overall third ranking in terms of market cap charts, which are led by PSU major ONGC and Reliance Industries.
ONGC's market cap stood at Rs 1.96 lakh crore followed by corporate behemoth Reliance Industries at Rs 1.78 lakh crore.
Infosys is at the fourth place and the fifth slot is commanded by telecom giant Bharti Airtel at Rs 1.18 lakh crore.
In the weak markets, BSE IT index closed 0.85 per cent or 44 points down at 5160.61.
The TCS scrip managed to gain nearly Rs 10 to close at Rs 1,255.45, whereas Infosys lost about Rs 14 to settle at Rs 2,191.60 at the BSE.
