Infosys topples RIL as most influential Sensex stock
Mumbai: After a gap of nearly three months, IT major Infosys Friday regained its status as the Indian stock market's most influential company, pushing billionaire Mukesh Ambani-led Reliance Industries Ltd to the second position.
Measured in terms of its weightage on the key index of Indian stock market, the Sensex, Reliance Industries Ltd (RIL) had been consistently enjoying its position as the most influential stock for many years till early December 2011.
RIL had slipped below Infosys on many occasions for brief periods during December 2011, but have remained on the top since the beginning of this year.
At the end of Friday's trade, RIL again slipped to the second position after Infosys in terms of Sensex weightage, which is measured by the value of a company's free-float or non-promoter shares that can be freely traded in the market.
At the end of Friday's trade, Infosys was the top-weight Sensex stock with a weightage of 9.63 percent, as against RIL's 9.61 percent.
At the NSE's Nifty index also, Infosys was the top-ranked stock with a weight of 8.49 percent, against RIL's 8.06 percent weight.
The weightage of a stock changes daily as per the change in the market value of their shares.
RIL, however, remains bigger than Infosys in terms of the overall market value, including the value of promoter shares.
The total market value of RIL stood at Rs 2,53,319 crore as on Friday, as against Infosys' Rs 1,64,218 crore.
RIL is the country's most valued firm, followed by ONGC, TCS, Coal India and Infosys in the top-five.