Reliance pips TCS to become most-valued firm on D-Street, stock rises 2%

Reliance Industries (RIL) Friday rallied over 2 per cent helping the oil-to-telecom major pip Tata Consultancy Services (TCS) to become the most-valued company in terms of market capitalisation.

At the end of trade on the BSE, RIL's market capitalisation was Rs 7,14,668.54 crore, while India's largest IT firm by revenue TCS slipped to the second spot with a valuation of Rs 7,06,292.61 crore.

Stock of RIL settled 2.79 per cent higher at Rs 1,127.50. The scrip had opened at Rs 1,096.10, then gained further ground and touched an intra-day high of Rs 1,129.30, up 2.95 per cent, over its previous closing price.

The stock of TCS closed at Rs 1,882.25, up 0.9 per cent, from the previous closing. In intra-day, it had a high of Rs 1,898.55 and a low of Rs 1,868.

Over the past few months, RIL and TCS are competing with each other to claim the number one position in terms of market capitalisation.

RIL had on August 23, 2018 became the first Indian company to cross the Rs 8 lakh crore market capitalisation mark.

The m-cap figure of companies changes daily with stock price movement.

Meanwhile, the BSE's benchmark Sensex closed 196.62 points, or 0.56 per cent higher at 35,457.16.