Reliance Industries Ltd (RIL) on Tuesday reclaimed its status as India’s most valued Company by market capitalization (MCap) replacing TCS from the top slot. Reliance’s MCap stood at Rs 7,51,414.89 crore, while TCS MCap has fallen to 7,43,222.16 crore.
Very earlier this month, Reliance Industries market capitalization hit the USD100 billion marks. Reliance’s Q1FY19 consolidated net profit grew 17.93 percent on year on year basis to Rs. 9,459 crore, while revenue for Q1FY19 grew by 56.5 percent year on year to Rs. 141,669 crore against Rs. 90,537 crore in Q1FY18.
Tata Consultancy Services (TCS), surpassed Reliance Industries in the race to a USD 100 billion market capitalization earlier this year. On 23 April, TCS crossed the USD 100 billion marks, an accomplishment that Reliance Industries was able achieve only earlier this month, i.e, on 12 July.
Obviously, the surging market capitalization of Reliance Industries is all the more remarkable. Its share price is up by nearly 28 percent since the threshold of the year; as it carries on to expand in the retail and mobile segments.
It is worth to note that both Reliance and TCS are far ahead of India’s third largest company by market capitalization, HDFC Bank, which has a valuation of Rs 5.74 trillion.
Reliance Industries’ stock ended at Rs. 1,185.85 up by 3.14 on the BSE whereas on NSE it closed at 2.84 percent higher at Rs 1,184.15.