RIL pips TCS again to become India’s most valued firm; Mukesh Ambani-led firm’s rise so far

Billionaire Mukesh Ambani-controlled Reliance Industries Ltd (RIL) on Tuesday pipped the information technology (IT) giant Tata Consultancy Services (TCS) to become the country’s most valued firm by market capitalisation. As per Tuesday’s close, Reliance Industries’ market capitalisation was recorded at Rs 7,37,576.57 crore on the Bombay Stock Exchange (BSE), up Rs 1,471.26 crore from that of Tata Consultancy’s market capitalisation of 7,36,105.31 crore on Tuesday, data available with the stock exchanged showed.

After surpassing TCS on Tuesday, shares of RIL continued the strong rally on Wednesday as well and were trading at Rs 1172.20 a piece, up 0.83% in the early morning trade, after touching an intraday of Rs 1180.95, ahead of the company’s second quarter financial results to be announced later in the day.

Shares of RIL closed on Tuesday at Rs 1,163, up 2.09% from their previous close on BSE, while TCS’ stocks ended the day 0.64% higher at Rs 1,961 a share. RIL shares have been broadly rising since late-June 2018 and have emerged as one of the biggest gainers among all the blue-chip components of BSE Sensex index.

While RIL and TCS are the first and second most valued companies by market capital, HDFC Bank is on the third position with Rs 5,41,370.18 crore, ITC on fourth with Rs 3,45,918.24 crore and Hindustan Unilever on the fifth position on the list with Rs 3,34,297.56 crore, as on Tuesday’s closing price.

Reliance Industries Limited (RIL)