RIL topples TCS with highest market capitalisation
Tuesday - July 31, 2018 1:46 pm ,
Category : BUSINESS
RIL topples TCS with highest market capitalisation
Mumbai July 31 (IANS) Reliance Industries Ltd (RIL) on Tuesday surpassed Tata Consultancy Services (TCS) in market capitalisation (market-cap) in India.
At 1.08 p.m. the market-cap of Reliance Industries on the BSE stood at around Rs 7.47 lakh crore against the Rs 7.39 lakh crore worth of market-cap of Tata Consultancy Services.
The rise in market-cap of the RIL came on the back of healthy results for the June-ended quarter analysts said.
The company on Friday reported a 4.47 per cent rise in net profit at Rs 9 459 crore for the first quarter of 2018-19 on the back of robust growth in its petrochemical business backed by higher realisation in refining.
The share price of RIL on BSE stood at Rs 1 176.35 higher by 26.65 points 2.32 per cent from its previous close.
--IANS rrb/in/sed
At 1.08 p.m. the market-cap of Reliance Industries on the BSE stood at around Rs 7.47 lakh crore against the Rs 7.39 lakh crore worth of market-cap of Tata Consultancy Services.
The rise in market-cap of the RIL came on the back of healthy results for the June-ended quarter analysts said.
The company on Friday reported a 4.47 per cent rise in net profit at Rs 9 459 crore for the first quarter of 2018-19 on the back of robust growth in its petrochemical business backed by higher realisation in refining.
The share price of RIL on BSE stood at Rs 1 176.35 higher by 26.65 points 2.32 per cent from its previous close.
--IANS rrb/in/sed
