Mukesh Ambani-led Reliance Industries Ltd (RIL) is ahead of IT major TCS and other blue chip firms on bourses by at least Rs 3.24 lakh crore in terms of market capitalisation.
This difference is equivalent to the total market cap of telco Bharti Airtel at the end of trading session today. Airtel's market cap stood at Rs 3.14 lakh crore today.
While Reliance Industries market cap stood at Rs 11.73 lakh crore, market cap of TCS rose to Rs 8.49 lakh crore today. On June 6, RIL became the first Indian firm to cross market cap of Rs 11.5 lakh crore after its share hit all-time high of Rs 1,870 in the same session. That led the market cap of RIL to climb to Rs 11.74 lakh crore.
On June 19, RIL became the first Indian company to cross Rs 11 lakh crore market capitalization after chairman Mukesh Ambani announced that Reliance Industries had become debt-free and added, that he has "fulfilled the promise to shareholders much before the schedule of 31st March 2021".
Market capitalisation of the oil conglomerate stood at Rs 11.14 lakh crore on June 19.
On March 23, RIL share touched a 52 week low of Rs 867.82. Since then, the stock has more than doubled. It has appreciated 110% while Sensex has gained only 41.1%.
TCS, the second-most valuable firm by market cap, witnessed its share fall to a 52 week low of Rs 1504.4 on March 13 this year. Since then, the stock has gained 50.9%. Top private sector lender HDFC Bank hit a 52-week low of Rs 738.9 on March 24. Since then the stock has delivered 49.5% returns.
Similarly, market cap of HUL stood at Rs 5.07 lakh crore, Rs 6.65 lakh crore short of RIL market cap.
IT firm's Infosys market capitalisation rose to Rs 3.25 lakh crore still short of RIl market cap by Rs 8.48 lakh crore.
By Aseem Thapliyal