In a quick reversal of fortunes, Reliance Industries Friday reclaimed top position in the market capitalisation chart, replacing TCS after the IT major briefly became the most valued firm during the day.
Mumbai: In a quick reversal of fortunes, Reliance Industries Friday reclaimed top position in the market capitalisation chart, replacing TCS after the IT major briefly became the most valued firm during the day.
With a market value of Rs 2,61,382 crore at close of the trade Friday, energy giant RIL surpassed TCS's market capitalisation (m-cap) of Rs 2,60,535 crore.
TCS's market valuation this afternoon had surpassed the m-cap of RIL, but the IT giant's stint at the top position proved to be short-lived with RIL reclaiming the position on the back of fag-end buying in the counter today.
During the afternoon trade, TCS commanded a market value of Rs 2,61,357 crore, the highest for any listed company in the country. At that time, this is about Rs 833 crore more than RIL's market value of Rs 2,60,524 crore as its shares were trading in the negative terrain.
At close, however, shares of RIL went up by 0.10 percent to close at Rs 807.85 on BSE. On the other hand, TCS's shares closed 1.37 percent up at Rs 1,331.15, after paring intra-day gains of 2 percent.
Market capitalisation or value of a listed company is arrived at by multiplying the total number of its shares with its stock price on a particular day or time. This figure changes daily with the change in the stock price.
ONGC with a market cap of Rs 2,27,319 crore was at third place, followed by ITC (Rs 2,22,843 crore) and Coal India (Rs 2,21,356 crore).