Mumbai: Reliance Industries on Tuesday briefly toppled Tata Consultancy Services (TCS) as the most valued firm in India, a position the former held for many years before ceding it to Tatas' I-T giant.
RIL saw its market capitalisation (m-cap) soaring to a record high of about Rs 4.58 lakh crore in morning trade at around 10:15 am, exceeding TCS's Rs 4.56 lakh crore valuation at that time.
Shares of RIL rose by over 1 percent to a multi-year high of Rs 1,410 on BSE. The scrip of TCS gained 0.77 per cent to Rs 2,338.95, PTI reported.
However, RIL's valuation later came down to Rs 4.52 lakh crore, which was Rs 4,508.4 crore less than that of TCS Rs 4.57 lakh crore m-cap at 1:30pm.
With this, TCS reclaimed the status of the country's most valued firm followed by RIL, HDFC Bank, ITC and SBI in the top-five bunch.
TCS will announce its quarterly earnings on Tuesday and RIL on Monday.
Disclosure: News18.com is part of Network18 Media & Investment Limited which is owned by Reliance Industries Limited
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