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Reliance Industries pips TCS in market capitalisation, stock closes 2.79% higher

Reliance Industries market capitalisation rose to Rs 7,14,668 crore in afternoon trade surpassing TCS' market cap which stood at Rs 7,06,574 crore on the BSE.

twitter-logo BusinessToday.In        Last Updated: November 16, 2018  | 15:59 IST
Reliance Industries pips TCS in market capitalisation, closes 2.79% higher
RIL chairman and managing director Mukesh Ambani

stockThe Reliance Industries (RIL) stock surpassed Tata Consultancy Services (TCS) in market capitalisation rising over 2% intra day in trade today.  The RIL stock rose 2.78% or 29 points to 1,126 on the BSE. On the other hand, the TCS stock was trading merely 0.72% higher at 1879 level. Reliance Industries market capitalisation rose to Rs 7,14,668 crore in afternoon trade beating TCS' market cap which stood at Rs 7,06,574 crore on the BSE.

The RIL stock opened at 1096.10 on the BSE and hit an intra day high of 1128.90.  The stock has been gaining for the last two days and risen 2.72% during the period.

The RIL stock has gained 22.36% since the beginning of this year and risen 24.88% during the last one year.

The large cap stock is trading above its 50-day and 200-day moving average of 1,112.59 and 1,093.07.

On the other hand, the TCS stock opened at 1,889.90 and hit an intra day high of 1898.55 on the BSE.

The stock has gained after two days of consecutive fall. It has risen 37.24% during the last one year and 39.58% since the beginning of this year.

The large cap stock is trading below its 50-day and 200-day moving average of 1,978 and 1926, respectively.

The Reliance Industries and TCS stocks closed 2.79% and 0.90% higher respectively on the BSE today.

On August 31, this year, TCS had regained its status as the country's most valued firm by market valuation surpassing RIL.

The other positions among the top five firms in terms of market capitalisation on the BSE are occupied by HDFC Bank (Rs 543241 crore) , HUL (Rs 3,64,959 crore) and ITC (Rs 3,38,661 crore).  

Meanwhile, the Sensex closed 196 points or 0.56% higher at 35,457 and the Nifty ended the day 65 points or 0.62% higher at 10,682.

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