Reliance Industries topples TCS as market-cap crosses Rs 7.51 lakh cr
Mukesh Ambani
Reliance Industries Ltd, the Mukesh Ambani-led oil-to-textile-to-telecom conglomerate, became India's first Rs 7.5 lakh crore company in the stock market history on Tuesday, 31 July 2018.
Reliance Industries Ltd (RIL) on Tuesday surpassed Tata Consultancy Services (TCS) in terms of market capitalisation (market cap) in India.
At closing, the market-cap of Reliance Industries on the BSE stood at around Rs 7.51 lakh crore, against the Rs 7.43 lakh crore worth of market-cap of Tata Consultancy Services.
During afternoon trade on BSE, the market valuation of RIL stood at Rs 7,47,676.35 crore, which is Rs 8,378.48 crore more than that of TCS’ Rs 7,39,297.87 crore m-cap.
Shares of RIL surged 2.75% to Rs 1,181.35 — its lifetime high on BSE on July 31.
On the other hand, shares of TCS fell by 0.79% to Rs 1,929.55.
TCS had first replaced RIL as the most valued firm more than five years ago.
So far this year, RIL shares have surged over 28%, while those of TCS slumped 28.5%.
Reliance Industries had earlier this month crossed the $100-billion market capitalisation mark.
The m-cap figure of companies changes daily with stock price movement.
(With inputs from Agencies)