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Caustic News Reliance Industries overtakes TCS as most valuable company
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    HomeBusinessReliance Industries overtakes TCS as most valuable company

Reliance Industries overtakes TCS as most valuable company

IANS 24 Apr, 2017 Business ,
Mukesh Ambani

Mukesh Ambani

Mumbai, April 24 – Industrialist Mukesh Ambani-led Reliance Industries (RIL) on Monday regained its position as the most valued company of the country in terms of market capitalisation (m-cap).

The company’s shares on the BSE closed higher by 1.19 per cent or Rs 16.65 to Rs 1,416.40 from its previous close at Rs 1,399.75. This lifted RIL’s m-cap to Rs 4,60,518.80 crore.

The company overtook Tata Group’s multinational IT company Tata Consultancy Services (TCS) in terms of m-cap.

The Tata Group’s multinational IT company’s shares on BSE gained by 0.77 per cent or Rs 17.90 to Rs 2,329.10 from its previous close at Rs 2,311.20. The company’s m-cap stood at Rs 4,58,932.37 crore.

On April 21 also, RIL had overtaken TCS in terms of m-cap during intra-day trade. The company’s shares had closed higher by 2.22 per cent to Rs 1,399.75 per share on last Friday with an m-cap at Rs 455,105.33 crore.

The company is expected to post healthy earning figures, when it announces its fourth quarter results for 2016-17.

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About The Author

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In Partnership with Indo-Asian News Service. For clarifications/queries, please contact our News Desk at contact@causticnews.com

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