TCS reclaims RIL crown; see-saw ahead

TCS had a market cap of Rs 4.52 lakh cr, while RIL's was Rs 4.46 lakh cr on April 24

Tata Consultancy Services (TCS) reclaimed the tag of India’s most-valuable company in terms of market capitalisation from Reliance Industries Limited (RIL). At Tuesday’s closing prices, TCS had a market cap of Rs 4.52 lakh crore, while RIL’s was Rs 4.46 lakh crore. On April 24, RIL had overtaken TCS as the country’s most valuable firm after four years. RIL stayed on the top for just five trading sessions. Since the gap in market value of both the firms is narrow, experts see a see-saw battle ahead. RIL’s foray into telecom has fuelled a rally in the Mukesh Ambani-led company’s stock price in recent months. On the other hand, weak growth forecast for software exporters has weighed on the Tata group flagship company. So far in 2017, shares of RIL have gained 27 per cent, while those of TCS have lost 3.2 per cent. Almost a year ago, TCS’s market cap was 1.67 times that of RIL. Since then, TCS has lost 13 per cent in market value, while RIL has gained 43.3 per cent.