Reliance Industries overtakes Tata Consultancy Services to become most valued firm by market capitalisation
Reliance Industries overtakes Tata Consultancy Services to become most valued firm by market capitalisation
Reliance Industries Limited (RIL) on Wednesday surpassed TCS to become the most valued domestic firm by market capitalisation during morning trade following a spike in its share price. The company's scrip zoomed 9.74 per cent to Rs 1,035 on the BSE. On the NSE, it climbed 9.61 per cent to Rs 1,034.10. Tracking gains in the share price, the company's market valuation also rose to Rs 6,49,838.31 crore. With this, the company surpassed Tata Consultancy Services (TCS) to become the most valued domestic firm by market capitalisation.
Meanwhile, there were media reports that Facebook Inc was in talks to buy stake in the company's telecom unit, Jio.
Fight Against Coronavirus
- What stays open during coronavirus lockdown
- Where to go if infected: Covid-19 testing centres
- Will high temperature kill coronavirus?
- Social Distancing: Govt Advisory
- Make Hand Sanitizer at home
- Home Quarantine: Steps to follow
The valuation of TCS was at Rs 6,46,460.84 at 12:19 hrs.
