RIL has been surpassed by ITC as India's third most valued company, following which the Mukesh Ambani led company, has dropped to fourth position in the nation's top most valued companies as far as market capitalization was concerned.
IT major TCS is ranked as India's most valuable company in terms of market capitalization followed by state-owned energy major ONGC.
ITC's market capitalization at the end of last week stood at Rs 261,353 crore, nearly Rs 2,108 crore more than RIL's Rs 259,245 crore value.
TCS' market capitalization at the end of last week was Rs 277,680 crore, while that of ONGC stood at Rs 277,283 crore.
The other companies in the top ten list of most valuable Indian companies in terms of market cap are CIL, HDFC Bank, SBI, Infosys, HDFC and NTPC.
A string of weak earnings numbers has seen the stock of RIL nosedive in recent months.
Last week, TCS saw its market cap surge by a whopping Rs 9,894 crore to Rs 2,77,680 crore, while that of ITC rose Rs 9,325 crore to Rs 2,61,353 crore.