new Delhi. Even though Tata Consultancy Services has lagged behind becoming the world’s largest IT company due to a fall in shares today, it has worn the crown of becoming the largest company in the country today. In fact, on Monday, the company’s market cap fell drastically after Reliance shares fell by 5.30 per cent. Due to which TCS got its benefit and TCS became the most valuable company in the country in terms of market cap. Although TCS has closed only marginally, but with a decline today.
Heavy profit booking in Reliance shares
On Friday, the quarterly results were released by Reliance. After this, there was a profit recovery in the company’s shares today. The stock closed today after the market closed down by 5.36 per cent. After which the company’s stock has come to Rs 1939.70. Whereas today the company’s stock started with Rs 2052. Which reached a day low of Rs 1932.20 during the trading session. While the company’s stock closed at Rs 2049.65 on Friday.
Company’s market cap reduced by 69 thousand crores
Today there is a big drop in the market cap of the company. The increase that Pithle had made in the company’s market throughout the week, it became clear today. In fact, the market cap of Reliance resulted in a loss of Rs 69702.15 crore due to the fall in the company’s stock. Whereas the market cap of the company had gained Rs 71 thousand crore last week. According to the data, the market cap of the company today stands at Rs 1229661.32 crore. While the company market cap of the previous week was Rs 1299363.47 crore.
TCS became the country’s most valuable company
The steep decline in Reliance shares benefited the country’s largest IT company TCS. Now TCS has become the most valuable company in the country. However, there is a slight difference in the market cap of the two companies. TCS has a market cap of Rs 12,34,609.62 crore as compared to Reliance, which is Rs 5000 crore more than RIL. However, there was an increase in shares of TCS company today. Due to which the company shares reached 52 weeks high with Rs 3,345.25. The stock fell 0.40 per cent to Rs 3290.20 after the market closed.