Software services major Tata Consultancy Services (TCS) on Thursday reclaimed the status of the country's most valued firm by market valuation, surpassing Reliance Industries Ltd (RIL).
RIL shares have been on a downhill, falling for the fourth day in a row on Thursday. In four days, the shares have plunged 10.79 percent to Rs 1,255.15 on the BSE. Following the plunge in its share price, RIL's market valuation dropped to Rs 7,95,628.55 crore on the BSE.
"Reliance Industries is leading the massive fall in Nifty. It fell down for the fourth consecutive day after touching lifetime highs of Rs 1,417," Samco Securities Head of Research Umesh Mehta said.
At the close of trade, the market capitalisation (m-cap) of TCS stood at Rs 8,13,779.67 crore, which is Rs 18,151.12 crore more than that of RIL's valuation.
The scrip of TCS closed at Rs 2,168.70, up 0.75 percent on the BSE.
RIL and TCS have in the past also competed with each other for the number one position in terms of market capitalisation.
TCS is the country's most valued firm followed by RIL, HDFC Bank (Rs 6,24,362.11 crore), Hindustan Unilever (Rs 3,67,880.69 crore) and ITC (Rs 3,67,513.78 crore). The m-cap figure of companies changes daily with stock price movement.