Billionaire Mukesh Ambani-led Reliance Industries Ltd Monday regained its position as the Indian stock market's most influential company, pushing IT major Infosys to the second place.
Mumbai: Billionaire Mukesh Ambani-led Reliance Industries Ltd Monday regained its position as the Indian stock market's most influential company, pushing IT major Infosys to the second place.
After a gap of nearly three months, Infosys had on Friday toppled RIL as most influential stock, measured in terms of the weightage on the market barometer index Sensex.
Reliance Industries Ltd (RIL) had been consistently enjoying its pole position for many years, till December 2011.
However, RIL slipped below Infosys on many occasions for brief periods during December 2011, but again regained this position at the beginning of this year.
At the end of today's trade, RIL again surged to the first place 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.
By the end of today's trade, RIL was the top-weight Sensex stock with a weightage of 9.73 percent, as against Infosys' 9.32 percent.
The weightage of a stock changes daily as per the change in the market value of their shares.
RIL is much bigger than Infosys in terms of overall market value, including the value of promoter shares.
The total market value of RIL stood at Rs 2,60,965 crore as on today, as against Infosys' Rs 1,61,746 crore.
RIL is the country's most valued firm, followed by ONGC, TCS, Coal India and Infosys in the top-five.