Reliance India regains top spot in stock value

MUMBAI, Jan 4 (AsiaPulse) – Starting new year on an upbeat
note, Indian giant Reliance Industries (RIL, BSE:500325) on
Monday regained its position of the country’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 on Monday’s trading session — the first of 2012.

At the end of on Monday’s trade, RIL commanded a market
value of Rs 231,487 crore (US$43.58 billion), higher than TCS’
Rs 2,30,609 crore.

TCS shares on Monday 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 on Monday.

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 Sense