Reliance Industries Ltd (RIL) on Tuesday pipped the Tata Consultancy Services (TCS) to become India’s largest company by market capitalisation, weeks after the oil-to-telecom conglomerate joined the $100 billion elite club.

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RIL shares touched a market capitalisation of over 7.45 lakh crore (7,45,046.70 crore) at 12:52 PM on the BSE.

The scrip traded at Rs 1,177, rising by 2.37 percent, or adding Rs 27.30 to take the stock’s value to life-time high.

#CNBCTV18Market | Reliance is now the highest valued company, surpasses @TCS in market capitalisation pic.twitter.com/ADHQGNKJLs

— CNBC-TV18 (@CNBCTV18Live) July 31, 2018

The market capitalisation of TCS stands at 7.39 lakh crore (7,39,278.72 crore) with the IT services firm’s stock trading at Rs 1,930.95, down by Rs 14 or 0.72 percent on the BSE.

RIL posted first quarter consolidated profit at Rs 9,485 crore, which grew by 0.3 percent compared to Rs 9,459 crore in the previous quarter.

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RIL, the promoter of Reliance Jio, also controls Network18, the parent company of CNBCTV18.com.

First Published:Jul 31, 2018 1:15 PM IST