Tata Consultancy Service (TCS) on February 14, 2013 surpassed Reliance Industries Ltd (RIL) to become the India’s most valued company as the IT major’s market capitalisation soared to over Rs 2.83 lakh crore on the back of a spurt in its share price.
At the end of trade, TCS commanded a market value of Rs 2,83,209 crore, the highest for any listed company in the country. This is about Rs 6,523 crore more than RIL’s market value of Rs 2,76,686 crore.
A gain of 1.15% at Rs 1,447 in TCS’s share price pushed the company to the top slot. In comparison, RIL shares fell by 2.63% to Rs 855.15 on the Bombay Stock Exchange (BSE).