Mumbai-based Tata Consultancy Services (TCS) maintained its lead over market heavyweight Reliance Industries (RIL) in terms of market capitalisation on Tuesday.
The Tata Group subsidiary which surpassed RIL to become the country's most valued firm in terms of market capitalisation on Monday stood at Rs 6.10 lakh crore Mcap mark in early trade today. RIL's market cap stood at Rs 6.08 lakh crore.
On Monday, TCS with market cap of Rs 6.11 trillion surpassed RIL (Rs 6.10 trillion) after TCS stock rose by 2.48 per cent to end the day at Rs 3,195.10 on the BSE, while RIL shares fell by 0.08 per cent to Rs 963.80.
In the ranking of top-five firms on the m-cap chart, TCS took the number one position followed by RIL, HDFC Bank at Rs 5.18 trillion, ITC with Rs 3.36 trillion m-cap and HDFC at Rs 3.12 trillion.
On January 24 this year, TCS crossed market capitalisation of Rs 6 lakh crore for the first time ever on BSE and NSE after the stock hit a fresh 52-week high of Rs 3,254.80 rising 4.88%.
Amid the rally, the stock also briefly pipped market heavyweight RIL to become the top stock in terms of market capitalisation. The Mumbai-based firm became the second Indian firm to achieve this feat with Mukesh Ambani-led Reliance Industries Ltd (RIL) retaining the top slot.
Since 2013, TCS was the most valued firm in terms of M-cap with over Rs 4 trillion pushing RIL to the second slot. However, on April 21, 2017, RIL overtook TCS to regain the most valued firm tag after a gap of almost four years with an m-cap of Rs 4.60 trillion.
Tata Consultancy Services (TCS) reported a 3.6 per cent fall in net profit to Rs 6,531 crore in the December 2017 quarter.
The Mumbai-headquartered company had posted a net profit of ?6,778 crore in the October-December quarter of the previous fiscal, the company said.
Reliance Industries Limited (RIL) posted its highest-ever quarterly consolidated net profit of Rs 9,423 crore, recording 25.1 per cent growth in Q3. The company's total revenue stood at Rs 109,905 crore, which is up 30.5 per cent as compared to Rs 84,189 crore in the corresponding period of the previous year. RIL's net profit was at Rs 7,533 crore in the corresponding period of the previous year.
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