As Reliance Industries Ltd (RIL) share price fell by 2.81 per cent to a multi-year low of Rs 692.90 today, the company’s market assessment slipped to Rs 2,26,886 crore, a shade below Tata Consultancy Services’ Rs 2,27,282 crore.
Thus, RIL lost its long-held position of the country’s major company in terms of market valuation.
In a comparison to RIL’s performance, TCS shares ended with a modest loss of 0.35 per cent at Rs 1161.25 and were prior seen trading with an unassuming gain for most part of the trading session incidentally the last for 2011.
The performance of TCS stock was also a gloom better than the barometer index Sensex, which fell by 0.57 per cent.
Prior this month, RIL had also lost its spot of the most dominant stock in the Indian market to another IT giant Infosys.
RIL has been amongst the best stocks to own in India for several years, but it sustained to under-perform the general market for most part of 2011, which has as such driven out to be a bad year for the stocks.