Reliance Industries is India's No. 1 again
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Starting new year on an upbeat note, billionaire Mukesh Ambani-led Reliance Industries today regained its position of the India's most-valued company and pushed Tata group firm TCS to the second slot.
Tata Consultancy Services (TCS) had dethroned RIL from the pole position in market-valuation charts on December 30, the last trading session of 2011, but its leadership position proved to be short-lived and it slipped to the second position in today's trading session -- the first of 2012.
At the end of today's trade, RIL commanded a market value of Rs 2,31,487 crore, higher than TCS' Rs 2,30,609 crore.
TCS shares today gained 1.5 per cent to close at Rs 1178.25, but the RIL stock registered a smarter gain of 2.03 per cent to close at Rs 706.95. Both the stock outperformed the market barometer Sensex, which gained 0.4 per cent today.
RIL has been the country's most valued firm for a long time, but it slipped to the second position thrice in 2011, allthough briefly on all the three occasions.
Last month, RIL also lost out to another IT major Infosys as the country's most influential stock, measured in terms of weightage on the barometer Sensex.
Although RIL has managed to regain this position on a few occasions, it remained the second most influential stock after Infosys at the end of today's trade.
The figures for both the market valuation and the Sensex weightage change on a daily basis in the stock market, as per the changes in the share prices.
While market valuation of a company is determined on the basis of cumulative value of all its listed shares, the Sensex weigthage is derived from the value of free-float shares or the shares owned by non-promoter stakeholders that are freely available for trade in the market.
At the end of today's trade, Infosys carried a Sensex weightage of 10.76 per cent, as against RIL's 10.01 per cent.
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