New Delhi:
Software services major Tata Consultancy Services (TCS) on Thursday reclaimed the status of the country's most valued firm in terms of market capitalisation (market cap). The firm achieved this feat by surpassing Mukesh Ambani-controlled Reliance Industries Ltd (RIL). The RIL has now slipped to number two position.
RIL shares have been on a downhill, falling for the fourth day in a row on Thursday. In four days, the shares have plunged 10.79 per cent to Rs 1,255.15 on the BSE.
On Thursday, the shares fell 3.41 per cent to close at Rs 1,255.15.
Following the plunge in its share price, Reliance Industries Ltd's market valuation dropped to Rs 7,95,628.55 crore on the BSE. In four days, its market capitalisation (m-cap) has plunged by Rs 96,256.45 crore.
RIL was the worst hit among the front-line scrips on both the key indices on Thursday.
"Reliance Industries is leading the massive fall in Nifty. It fell down for the fourth consecutive day after touching lifetime highs of Rs 1,417," Samco Securities Head of Research Umesh Mehta said.
At the close of trade, m-cap of TCS stood at Rs 8,13,779.67 crore, which is Rs 18,151.12 crore more than that of RIL's valuation. The scrip of TCS closed at Rs 2,168.70, up 0.75 per cent on the BSE.
RIL and TCS have in the past also competed with each other for the number one position in terms of market capitalisation.
TCS is the country's most valued firm followed by RIL, HDFC Bank (Rs 6,24,362.11 crore), Hindustan Unilever (Rs 3,67,880.69 crore) and ITC (Rs 3,67,513.78 crore).
The m-cap figure of companies changes daily with stock price movement.
