Tata Consultancy Services (TCS) on Monday became the country’s most valuable company, surpassing billionaire Mukesh Ambani-led Reliance Industries. TCS’ share price rose as much as 1.26 per cent to hit a record high of ₹ 3,345.25 on the BSE. At the day’s highest level, TCS’ market value touched an all-time high of ₹ 12.55 lakh crore, data from BSE showed.
Reliance Industries became the country’s second most valuable company as its shares declined as much as 5 per cent to hit an intraday low of ₹ 1,950.30 after the world’s largest refining complex reported a 30 per cent decline in its oil-to-chemicals division, but beat profit estimates for the third quarter as it reined in spending.
Reliance Industries’ market capitalisation declined to ₹ 12 lakh crore on the BSE.
Reliance Industries’ market value touched an all-time high of ₹ 14.58 lakh crore on September 16, when its stock touched a record high of ₹ 2,369.35 on the National Stock Exchange.