RIL overtakes TCS as most valuable company

Mumbai April 24 (IANS) Industrialist Mukesh Ambani-led Reliance Industries (RIL) on Monday regained its position as the most valued company of the country in terms of market capitalisation (m-cap).

The company s shares on the BSE closed higher by 1.19 per cent or Rs 16.65 to Rs 1 416.40 from its previous close at Rs 1 399.75. This lifted RIL s m-cap to Rs 4 60 518.80 crore.

The company overtook Tata Group s multinational IT company Tata Consultancy Services (TCS) in terms of m-cap.

The Tata Group s multinational IT company s shares on BSE gained by 0.77 per cent or Rs 17.90 to Rs 2 329.10 from its previous close at Rs 2 311.20. The company s m-cap stood at Rs 4 58 932.37 crore.

On April 21 also RIL had overtaken TCS in terms of m-cap during intra-day trade. The company s shares had closed higher by 2.22 per cent to Rs 1 399.75 per share on last Friday with an m-cap at Rs 455 105.33 crore.

The company is expected to post healthy earning figures when it announces its fourth quarter results for 2016-17.

--IANS
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