ALSO READReliance Industries again overtakes TCS as the most valued Indian company RIL pips TCS to become most-valued Indian company, M-Cap at record high Singapore-based arbitrator on panel for RIL-ONGC case Reliance Industries pips TCS on market cap, takes Rs 1,450 cr lead A day after edging past RIL, TCS retains lead as most valued company
The market valuation of Reliance Industries Ltd (RIL) today slipped below the Rs 5 lakh crore mark, a day after the company attained the milestone. At close of trade today, RIL's market capitalisation (m- cap) stood at Rs 4,94,231.38 crore, which was Rs 10,226.71 less than yesterday's Rs 5,04,458.09 crore. Shares of the company today lost 2.03 per cent to end at Rs 1,519.90 on BSE. Intra-day, it fell 2.53 per cent to Rs 1,512. Sentiment was impacted after the government sought about USD 3 billion from Reliance Industries, Royal Dutch Shell and ONGC following a "partial" arbitration award in its favour over cost recovery in Panna/Mukta and Tapti (PMT) oil and gas fields in the Arabian Sea. RIL yesterday attained a market valuation of over Rs 5 lakh crore, becoming the second firm after TCS to achieve this milestone. Shares of RIL have surged over 43 per cent so far this year. RIL had earlier this month toppled TCS to become the country's most valued firm in terms of market capitalisation. The m-cap figures change daily with the stock price movement.