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This is an archive article published on September 17, 2012
Reliance Ind regains most valued status
With a market capitalisation of Rs 2.82 lakh crore Reliance Industries shares rose nearly 4 per cent.
Reliance Industries RIL today regained its status as the country8217;s most valued firm with a market capitalisation of Rs 2.82 lakh crore as its shares rose nearly 4 per cent,dethroning IT major TCS whose scrips declined over 5 per cent.
With share prices of Reliance Industries Ltd RIL gaining 3.89 per cent to Rs 873.65,the company8217;s market value soared to Rs 2,82,672 crore. In a tale of contrasting fortunes,Tata Consultancy Services8217; market value stood at Rs 2,62,443 crore at the end of day as its shares slipped by 5.03 per cent to Rs 1,340.90 on the BSE.
On August 1,RIL had toppled state-run oil company ONGC to become the country8217;s most valued firm. On August 23,however,Reliance Industries lost its position of the country8217;s most valued company to TCS.
Today,ONGC with a market cap of Rs 2,40,195 crore was at the third place,followed by Coal India Rs 2,36,547 crore,and ITC Rs 1,98,782 crore.
In 2006,RIL had toppled ONGC to emerge as the country8217;s most valued firm and managed to stay on the top since then,except for a few brief periods in the last few months.
In last few month,there had been frequent changes in the top slot amid volatile market conditions.
With the rise in RIL8217;s share price,the company also regained its position as the most influential stock on the Sensex,pushing FMCG major ITC to second place.
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At close of trade,RIL commanded 9.88 per cent weight,while ITC had 8.84 per cent weight in the Sensex.
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