RIL may pip TCS as India's most-valued company

Mukesh Ambani-led company's market capitalisation just 1.1% less than Tata group's crown jewel

Mukesh Ambani-led Reliance Industries (RIL) could overtake Tata Group's crown jewel Tata Consultancy Services (TCS) as India's most-valued company as earlier as tomorrow. Currently, the difference in the market capitalisation (m-cap) between the two companies is just 1.1 per cent, or Rs 5,206 crore. With shares of the oil & gas refiner showing strong momentum due to the optimism around its telecom foray, while the outlook for technology stocks dimming due to stronger rupee, market players expect RIL to pip TCS in next few trading sessions.

At Thursday's close, RIL's m-cap stood at Rs 4,67,647 crore, while that of TCS was Rs 4,72,853 crore. RIL's shares have rallied 33 per cent this year to highest level in nine years, while that of TCS have remained flat.

Interestingly, about 10 months ago, the m-cap gap between TCS and RIL was more than 60 per cent.

TCS had surpassed RIL in terms of market value in February 13, 2013.