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Bad news for Mukesh Ambani as Reliance may lose its crown as country's most valued firm due to...
Reliance Industries, led by businessman and billionaire Mukesh Ambani, may lose the crown as the country’s most valued firm as Tata Consultancy Services is rapidly closing the market capitalization gap between the two firms.
Updated : Dec 25, 2024, 10:40 PM IST
 "Mukesh Ambani (Image/X)")
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Reliance Industries, led by businessman and billionaire Mukesh Ambani, may lose the crown as the country’s most valued firm as Tata Consultancy Services is rapidly closing the market capitalization gap between the two firms.
According to latest market data, the market cap (Mcap) of Reliance Industries has dipped to Rs 16.55 lakh. Notably, the firm has lost around Rs 4.5 lakh crore in valuation since June 28, 2024, when its Mcap had hit an all-time high, surpassing Rs 21 lakh crore.
On the other hand, Tata Group’s TCS has a market cap of Rs 15.12 lakh crore. As per experts, if this trend continues, Mukesh Ambani-led Reliance is on the verge of the losing the crown to Tata Group, once led by late philanthropist and industrialist Ratan Tata.
What is Market Cap?
Market capitalization, or market cap, represents the total dollar market value of a firm's outstanding shares of stock. This figure is often used by investors to determine a company's size instead of sales or total asset value.
In other words, it also determines how much a company is worth, based on the outstanding shares of its stock.
