RIL topples TCS with market-cap crossing Rs 7.51 lakh cr (Lead)
Tuesday - July 31, 2018 6:26 pm ,
Category : BUSINESS
RIL topples TCS with market-cap crossing Rs 7.51 lakh cr (Lead)
Mumbai July 31 (IANS) Reliance Industries Ltd (RIL) on Tuesday surpassed Tata Consultancy Services (TCS) in terms of market capitalisation (market-cap) in India.
At closing the market-cap of Reliance Industries on the BSE stood at around Rs 7.51 lakh crore against the Rs 7.43 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 settled at Rs 1 185.85 on Tuesday higher by 36.15 points or 3.14 per cent from its previous close.
--IANS rrb/pgh/sed
At closing the market-cap of Reliance Industries on the BSE stood at around Rs 7.51 lakh crore against the Rs 7.43 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 settled at Rs 1 185.85 on Tuesday higher by 36.15 points or 3.14 per cent from its previous close.
--IANS rrb/pgh/sed
