Distances between the two largest companies of the country are getting shorter. In terms of market cap, the country’s largest company Reliance Industries Limited and IT giant Tata Consultancy Services (TCS) have very little gap left. (Photo: File)
Actually, in the midst of the Corona crisis, both companies saw steady growth. But for the last few months, Reliance shares have been under pressure, due to which there has been a big drop in the market cap. At the same time, the market cap of TCS has increased continuously.
If we talk about last week, the market cap of Reliance Industries Limited (RIL) fell the most by Rs 34,296.37 crore, now the market cap of the company has come down to Rs 12,25,445.59 crore.
TCS market cap of Rs 11.70 lakh crore At the same time, the market cap of TCS has increased drastically last week. TCS’s market cap increased by Rs 72,102.07 crore in BSE. Due to which the market cap of the company has increased to Rs 11,70,875.36 crore. The company’s market cap has reached very close to the market cap of RIL.
Experts are speculating that TCS may also become the number 1 company in the country by beating RIL next week, as January 8 TCS has declared its third quarter results. The results have been very impressive. It is expected that next week, TCS shares may continue to rise.
TCS ‘consolidated net profit for the third quarter (October-December) of the current financial year rose 7.2 percent to Rs 8,701 crore. In the same quarter of the previous financial year, the company made a net profit of Rs 8,118 crore.
The company’s revenue grew 5.4 percent to Rs 42,015 crore during the quarter, compared to Rs 39,854 crore in the same quarter of the previous financial year. The company said that this is the December quarter’s strongest growth in 9 years.