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India's most valued firm Reliance crosses $250 billion m-cap for first time, widening gap with TCS

The current gulf between Reliance and TCS stretches more than Rs 6 lakh crore. Such a widen gap was last seen on September 11, 2020

April 28, 2022 / 02:43 PM IST
Mukesh Ambani | Company: Reliance Industries, India

Mukesh Ambani | Company: Reliance Industries, India

 
 
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India's most valued firm Reliance Industries passed market capitalisation milestone of $250 billion for the first time with shares hitting a record high on April 28.

The stock traded at Rs 19.20 lakh crore or $250.7 billion, the highest among listed entities in India. A share was quoting at Rs 2,831.95, up 1.93 percent at 13:02 hours IST.

Since October 2021 Reliance has corrected about 18 percent. From March 8 closing, it has gained strength, rising 27 percent to hit a fresh record high of Rs 2,838.5 and has been one of the key stocks to lend support to the market. In the same period, the Nifty50 climbed more than eight percent.

Now the gap between Reliance and Tata Consultancy Services has widened further and hit a nearly 19 month high. Currently, TCS is valued at more than Rs 13.07 lakh crore.