Reliance Industries (RIL) on Tuesday became the country's most valued firm by M-cap, replacing Tata Group's crown jewel TCS from the top slot. However, RIL's reign was short-lived as it slipped to the second spot in the M-cap ranking with a market valuation of Rs 7,54,773.24 crore on BSE today.
The M-cap of TCS stood at Rs 7,56,181.88 crore, which is Rs 1,408.64 crore more than that of RIL's valuation.
Shares of TCS rose 1.74 per cent to settle at Rs 1,975.10 on BSE and RIL gained 0.45 per cent to end the day at Rs 1,191.15. TCS had first replaced RIL as the most valued firm more than five years ago. The IT major in mid-June become the first Indian company to close the trading session with a market valuation of over Rs 7 lakh crore.
TCS' market valuation had earlier this year went past the Rs 6 lakh crore level. The Mumbai-headquartered TCS in April became the first Indian company to close the trading session with over $100 billion market valuation. The m-cap figure of companies changes daily with stock price movement.