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Reliance Industries stock zooms 10%, pips TCS to become most-valued firm

The company's scrip zoomed 9.74 per cent to Rs 1,035 on the BSE

Press Trust of India  |  New Delhi 

reliance industries, RIL

Reliance Industries Limited (RIL) on Wednesday surpassed TCS to become the most valued domestic firm by market capitalisation during morning trade following a spike in its share price.

The company's scrip zoomed 9.74 per cent to Rs 1,035 on the BSE.

ALSO READ: RIL surges over 9% on report Facebook eyeing stake in Reliance Jio

On the NSE, it climbed 9.61 per cent to Rs 1,034.10.

Tracking gains in the share price, the company's market valuation also rose to Rs 6,49,838.31 crore. With this, the company surpassed Tata Consultancy Services (TCS) to become the most valued domestic firm by market capitalisation.

Meanwhile, there were media reports that Inc was in talks to buy stake in the company's telecom unit, Jio.

The valuation of TCS was at Rs 6,46,460.84 at 12:19 hrs.

First Published: Wed, March 25 2020. 14:26 IST
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