Reliance Industries on Tuesday became the country’s most valued company, pushing IT major TCS to second spot in the domestic market capitalisation chart.
With a market value of Rs 2,54,377 crore at close of trade on Tuesday, energy giant RIL surpassed TCS’s market capitalisation (m-cap) of Rs 2,53,479 crore.
Shares of RIL were up 1.66 per cent at Rs 786.20 on the BSE at end of trade, while TCS shares settled with a mild gain of 0.23 per cent at Rs 1,295.10.
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.
ITC with a market value of Rs 2,30,939 crore stood at third place, followed by Coal India (Rs 2,28,020 crore) and ONGC (Rs 2,13,673 crore).
In the broader market, the BSE benchmark Sensex shot up 305 points to 2-month high of 18,842 after credit rating agency Moody’s said that India’s outlook is stable and reports of a debt relief package to Greece that boosted stock markets globally.