Reliance Industries Ltd (RIL), the country’s largest company, has suffered a major setback in terms of market capitalization. This morning it became the second largest company in the country. However, she later came in at number one.
Tata Consultancy Services (TCS), an IT company of the Tata group, has now become the country’s highest market cap (M-Cap) company. TCS had a market cap of Rs 12,21,373 crore this morning. RIL has a market cap of Rs 12,20,341 crore. However, during the trading, the market cap of both the first and second companies has been back and forth today.
Earlier last week, Reliance reached number two in the weightage of Sensex. HDFC reached the first number. In this way, the company has received its second shock in two weeks.
Reliance shares Fall to Rs 1,922
This morning the price of Reliance Industries shares was reduced to Rs 1,922. However, it lagged behind TCS at Rs 1,925 in market cap. Its market cap at Rs 1,925 was Rs 12.21 lakh crore. TCS shares rose to Rs 3,255. This brought its market cap to Rs 12.21 lakh crore. TCS has recently presented better results.
TCS Benefits in Corona
There has been a good demand for IT companies in Corona. The company has benefited from this. While Reliance has not seen any further plans since selling stakes in Jio Telecom and Retail.
It was only by selling stake that there was a record increase in its shares and market capitalization. However, the company will release the result this week. The effect of its stock will be seen on that too.
Reliance shares were Down 12% on March 9
Earlier, on 9 March last year, Reliance Industries overtook Tata Consultancy. Reliance Industries was the biggest loser in the stock market for 12 years. Its stock was down by 12.35% at Rs 1105.
This was the biggest drop in the company’s shares in a single day since October 2008. This brought its market cap to Rs 7.05 lakh crore. TCS had a market cap of Rs 7.40 lakh crore. The Sensex had dropped by 1941 points.
Reliance is now at Number Three
Let us know that Reliance Group is third in terms of market cap of listed companies. It has a total of 6 companies listed. Reliance Industries is the largest company in this. Their market cap is 12.50 lakh crore rupees.
While Tata Group is at number one. Its 28 listed companies have a total market cap of Rs 17.30 lakh crore. TCS is the largest company in this. HDFC Group is at number two. It has a total of 4 companies listed. Its market cap is Rs 15.10 lakh crore. HDFC Bank is the largest among it. Its market is 8 lakh crore rupees.