On Wednesday, Tata Consultancy Services (TCS) crossed Reliance Industries and gained the position of most valued company of India in terms of market capitalization.
At the end of trade on Wednesday, Tata Consultancy Services (TCS) commanded a market value of Rs 2,48,116 crore which was higher than market value of Reliance Industries’ Rs 2,43,413 crore.
RIL was on the top since last 6 years when it had toppled ONGC to emerge as the country’s most valued firm. But it was getting tough competition from TCS for past few months. In meantime ITC has shown good performance on few occasions and achieved top slot for few days but RIL and ONGC were the main leaders. Coal Indian Limited had also shown good hands few times to get the top slot. But unable to retain the position for long time.
This is not the first time when TCS has overtaken the RIL. Few months back, TCS pipped RIL to become the largest company by market value on the last day of trading in 2011. However, RIL soon regained its top position, but was overtaken by TCS again on Wednesday.
A company’s market capitalisation is determined by multiplying its share price with total number of shares.
If we talk about countrie’s most valued companies, TCS is on the top followed by RIL, ONGC, CIL and ITC. This ranking is based on the Wednesday’s trade.
