Tata Consultancy Services(TCS) saw a 1.26% jump in its share value to become the most valued company in India. Reliance Industries Limited(RIL) did not have a good start for the new week. A decline of 4.84% in its share brought the company to the second position. For its nation first motive, TCS is also one of the most respected firms in India.
Complete Detail about TCS-RIL Share Market On Monday
Bombay Stock Exchange(BSE) witnessed one of the major market shuffles in the afternoon on Monday. TCS market cap jumped to Rs 1245341.44 crore when company share touched a one-year high value of Rs 3345.
On the other side, RIL saw a share value decline to Rs 1950. With this share value, the company market cap stands at Rs 1242593.78 crore.
In 2019 also, TCS reclaimed the first position from RIL. Market capitalization varies every day with stock price fluctuations.
RIL share mainly declined because of refining complex 30% percent downfall. RIL touched an all-time high on September 16th, 2020 when its market capitalisation reached 14.58 lakh crore with share value of Rs 2369.35 at National Stock Exchange(NSE).
At the end of the last quarter of 2020, RIL saw a net profit jump of 13% to Rs 13101 crore from Rs 11640 crore in the last quarter of 2019. The company’s profit was better than anticipated as analysts polled by Refinitiv expected the company to report a profit of Rs 11,009 crore. Its revenue from operations, however, declined 21 percent to Rs 1.24 lakh crore.
Current TATA Group vs RIL Business War
Recently, Tata group and RIL both are trying to take the control of Indian market. Other than their respective businesses, both firms are on an acquisition spree. Reliance recently acquired Future Group, whereas news of IndiaMart acquisition by Tata is taking around from few months.
In Pharma industry, Reliance acquired major shares of NetMeds, whereas Tata’s deal with 1mg is in the last phase to acquire its major stake. To counterattack JioMart, Tata has acquired a 60% share of Bigbasket.
Tata group has a plan to introduce a super app. Under this digital initiative, the company wants to bring all major businesses like retail, health, manufacturing under one umbrella.
Tata Group is known for its Nation First appeal among its stakeholders, whereas RIL has dominated the Indian market with different ambitious project in different business areas. Some of Business Critics credit RIL’s success to its closeness with the current Indian Government as well.
It will be interesting to see how these two business giants will attract the business fraternity, investors, and customers to be more competitive against each other.