InvestorQ : Is it true that TCS has overtaken Reliance Industries in terms of market capitalization?
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Is it true that TCS has overtaken Reliance Industries in terms of market capitalization?

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Rashi Mehra answered.
3 months ago
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On Monday, TCS actually surpassed Reliance Industries in terms of market cap to once again become the most valuable company in India. Just about 3 months back, Reliance was valued at 50% more than TCS, but that is how markets are. Just to illustrate, TCS market cap stands at Rs.12.45 trillion while RIL was valued at Rs.12.42 trillion.

The convergence began about 3 months back when Reliance peaked and TCS started a massive re-rating rally. Latest quarter results have bene positive for TCS but not too positive for RIL and that has reflected in the price performance. However, it needs to be noted that the market cap keeps fluctuating on an intraday basis and may not be conclusive.

But the bigger achievement for TCS was that for the first time, its market cap has scaled above that of Accenture, a company with global presence. TCS had long been seen as a BFSI-driven software company. With the big shift made into the digital domain, TCS is now being valued at par with other IT service companies. Now TCS is the world’s most valuable IT services company.

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