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TCS is again India's most valued firm

By Religare
TCS is again India's most valued firm
India's largest software exporter, TCS has again gained the tag of India's most valued firm, second time within a week, after beating Reliance Industries Ltd (RIL) in terms of market capitalization, as the shares of billionaire Mukesh Ambani led oil and gas firm tumbled around 3 per cent on Bombay Stock Exchange.

At the end of day's trade, RIL's market capitalization stood at Rs 2,28,966.07 crore, marginally lower than that of TCS, which rose to Rs 2,29,474.38 crore. TCS had pulled back RIL from the top position for the first time on December 30, 2011. However, RIL had regained the top position on January 2, the first day of trading in 2012.

Earlier to this, RIL in 2011, had lost the tag of most valued firm, two times in the August month, when it first lost its top position to Coal India, then regained it and then again it was beaten by ONGC. Besides, the company has retained its top slot since 2006.

Amid weak broader market, RIL's shares slipped as much as 2.9 per cent to Rs 695.25, while at the end of day's trading, it quoted at Rs 699.25, down 2.34 per cent from previous close on BSE. While the software exporter, TCS closed with a modest decline of 0.17 per cent at Rs 1,172.45 on BSE.

Meanwhile, the broader benchmark Sensex was closed at 15,857.08, down 25.56 points or 0.16 per cent. In the weak market, RIL's market value fell by Rs 5,500 crore in today's trade, while that of TCS fell just about Rs 400 crore.

Story first published: Thursday, January 5, 2012, 23:32 [IST]
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