RIL closes in on TCS for top m-cap ranking

Together, five gainers of the 10 most valued firms added Rs Rs 39,112.28 crore to their m-cap

Helped by a sharp surge in its share price, Mukesh Ambani-led Reliance Industries Ltd (RIL) is fast closing in on the top-ranked TCS in market valuation with a gain of over Rs 28,000 crore last week.

Together, five gainers of the 10 most valued firms added Rs Rs 39,112.28 crore to their market capitalisation (m-cap) last week.

While RIL, ONGC, SBI, HUL and IOC saw rise in their valuations for the week, those suffering losses were TCS, HDFC Bank, ITC, HDFC and Infosys. The cumulative loss of these five companies was Rs 23,003.32 crore.

The m-cap of RIL soared Rs 28,074.77 crore to Rs 4,56,983.23 crore, becoming the top gainer among the 10-most valued entities.

On the other hand, TCS's m-cap declined by Rs 788.17 crore to Rs 4,78,242.57 crore.

Ambani, Chairman of RIL, is ranked as India's richest person with an estimated networth of $31 billion, as per the 'real time' data from Forbes, known for its rich lists.

This marks a sharp surge from $23.2 billion when the annual Forbes global rich list was published in March, which ranked Ambani at 33rd position globally. The 'real time' data, which takes into account daily share price movements of the listed companies, now ranks him at 21st position.

In the top-10 in terms of market capitalisation of the companies, TCS continues to lead the chart in India followed by RIL, HDFC Bank, ITC, ONGC, HDFC, SBI, Infosys, HUL and IOC.

The Sensex and Nifty recorded their second straight weekly gain by rising 86.11 points, or 0.29 per cent, and 24.55 points, or 0.26 per cent, respectively.

Among the gainers, IOC's valuation surged Rs 5,074.43 crore to Rs 1,92,876.55 crore and HUL added Rs 2,900.23 crore to Rs 1,99,801.94 crore.

The m-cap of ONGC jumped Rs 1,668.32 crore to Rs 2,39,147.34 crore and that of SBI went up by Rs 1,394.53 crore to Rs 2,34,699.27 crore.

On the other hand, the valuation of ITC slumped Rs 9,353.49 crore to Rs 3,31,319.87 crore.

Infosys saw its m-cap plunge by Rs 9,084.41 crore to Rs 2,25,387.70 crore and HDFC Ltd lost Rs 2,867.55 crore to Rs 2,35,758.03 crore.

The m-cap of HDFC Bank slipped Rs 909.7 crore to Rs 3,68,686.27 crore.