MUMBAI: With a market valuation of over Rs 6.11 trillion, the software major Tata Consultancy Services today surpassed Reliance Industries (RIL) to become the country's most valued firm in terms of market capitalisation.
At the close of trade today, TCS' market capitalization (m-cap) stood at Rs 6,11,634.03 crore (Rs 6.11 trillion), which is Rs 1,170.86 crore more than RIL's Rs 6,10,463.17 crore. Shares of TCS rose by 2.48 per cent to end the day at Rs 3,195.10 on the BSE, while RIL shares fell by 0.08 per cent to Rs 963.80.
In the ranking of top-five firms on the m-cap chart, TCS took the number one position followed by RIL, HDFC Bank at Rs 5.18 trillion, ITC with Rs 3.36 trillion m-cap and HDFC at Rs 3.12 trillion. On January 24 this year, TCS' market valuation had surged past the Rs 6 trillion, making it the second company to achieve the milestone after RIL but still trailing the Mukesh Ambani firm.
It can be noted that since 2013, TCS was the most valued firm in terms of M-cap with over Rs 4 trillion delegating RIL to the second slot. However, on April 21, 2017, RIL overtook TCS to regain the most valued firm tag after a gap of almost four years with an m-cap of Rs 4.60 trillion.
Since then both the companies gained and crossed the Rs 6-trillion tag in December last.