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On 31st July 2018, Reliance Industries regained its status as the country’s most valued firm in terms of market capitalization, removing TCS from the top position. Reliance shares managed a market capitalization of over Rs.7.45 trillion ($109 billion). On 31st July, the closing price of Reliance Industries was Rs.1, 185.85. On the other hand, Tata Consultancy Service’s market cap stands at Rs. 7.39 trillion. The closing price of TCS on 31st July was Rs.1, 940.20.
Reliance is ahead of TCS, to become India’s largest company in market cap after the Reliance Industries profit made it enter the $100 billion elite club. Reliance stated its net profit in the Q1FY19 of Rs 9,485 crores which increased by 0.3% as compared to Rs.9,459 crores in Q4FY18. Reliance shares beat the market by a wide margin in the last 2 months because of the daily boost in the refining business and the increase in the revenues of the telecom's subsidiary ‘Reliance Jio’s non-mobile business'.
Reliance Industries outperformed in the Q1FY19, because of the petrochemical and refining businesses which reported a 35% YoY jump in the growth. Revenue at energy-to-telecom companies increased by 56.5% to Rs.1.4 trillion against Rs 90,537 crore in the previous quarter.
Reliance Jio Infocomm limited reported a profit of Rs.612 crore in Q1FY19, 19.9% increase on a sequential basis. Jio has continued to increase its subscriber's momentum in line and the company even focuses on boarding more subscribers. Revenue increased by 56.5% at Rs.1,41,699 crore and GRM stood at $10.5 per barrel.
On the other hand TCS has also performed well in Q1FY19. On 10th July, TCS reported a 24% increase in profit, which is the fastest among the last 2 years, to Rs. 7,340 crore due to a rise in banking, financial services, and insurance. Its revenues increased by 16% to Rs.34,261 crore. TCS had a strong quarter which is still at the peak even because of BFSI segment of the North American Markets and the management expects it to be increasing in the upcoming quarters.