TCS Market Cap: In the business of January 25, TCS has also become the largest domestic company in the stock market in terms of market capitalization.
In the business of Monday, January 25, the country’s largest tech company Tata Consultancy (TCS) has also become the largest domestic company in the stock market in terms of market capitalization. TCS has benefited from the steep fall in Reliance Industries (RIL) shares on Monday, 25 January. RIL’s market cap fell below Rs 12.50 lakh crore due to the fall in the stock. At the same time, there was chaos in TCS shares. At present, there is a slight difference in the market cap of the two companies in the intraday business.
TCS Overtakes RIL
After the December quarter results, Reliance Industries shares are seeing a sharp decline. RIL’s share has fallen more than 4% to Rs 1953. At the same time, the market cap of RIL also fell to around 12.45 lakh crore during this period. On the other hand, TCS shares are up about 1 percent and the stock reached Rs 3345 against Friday’s closing price of Rs 3303. During this time, the company’s market cap has exceeded Rs 12.48 lakh crore.
TCS Gained 24% In 3 Months, RIL Dropped 4%
Talking about the last 3 months, there is a positive trend in TCS shares. During this period, TCS shares have gained nearly 24 percent. Between 26 October 2020 and 25 January 2021, the stock rose from Rs 2688 to Rs 3345. At the same time, RIL fell about 4 percent during this period. During this period, the stock weakened from Rs 2028 to Rs 1953.
TCS: Rapidly Increased Market Cap
TCS’s market cap reached Rs 10 lakh crore on 5 October 2020. On 28 December 2020, TCS’s market cap had crossed 11 lakh crore for the first time. On the other hand, RIL touched 14 million crore market cap in September last year. On 16 September 2020, RIL’s stock reached a record high of Rs 2,368.80. But since then the stock has seen pressure.
Why The Decline In RIL After the December quarter results, the shares of Reliance Industries are falling. Reliance Industries’ EBITDA has been weaker than expected. Apart from this, the business of telecom arm Jio has also been sluggish with expectation. Because of which investors are selling. RIL’s revenue fell to 1.28 lakh crore in the third quarter of the current financial year, from 1.57 lakh crore a year ago. The subscriber growth of Reliance Jio has been sluggish. ARPU also grew at 4 percent.