Diversified industrial conglomerate Reliance Industries (RIL) overtook Tata group’s Tata Consultancy Services (TCS) to become India's most valuable company in terms of market capitalisation (m-cap) in intra-day trade on Tuesday.
RIL's market-capitalisation of Rs 457,641 crore went ahead of TCS, which had a m-cap of Rs 457,386 crore at 09.37 am, the BSE data shows. RIL was trading 1.2 percent higher at Rs 1,407.50, while TCS was flat at Rs 2,321.40.
RIL, however, lost the initial gains as trade progressed and slipped to the No. 2 spot. At 09:51 am; TCS reclaimed the at number one position with m-cap of Rs 457,099 crore. RIL m-cap stood at Rs 456,682 crore, data show.
Thus far in the calendar year 2017, RIL has outperformed the market by surging 30 percent as compared to 11.4 percent rise in the S&P BSE Sensex. The technology major TCS, however, has underperformed by falling 1.7 percent during this period.