Amidst the stir caused by the record-breaking success of its newly formed telecom network Reliance Jio, Reliance Industries Ltd. (RIL) has marked its name as the most valuable company of India in terms of market capitalization in intra-day trade. The Mukesh Ambani-led conglomerate has replaced IT giant Tata Consultancy Services (TCS), which had surpassed RIL’s position back in the year 2013.
The BSE data shows that RIL, with the m-cap of Rs 457,641 crore, was ahead of TCS that had an m-cap of Rs 457,386 crore at 09:37 am on 24th April 2017. The same day, RIL ended 1.2% higher at Rs 1,416 levels, while TCS was up 0.77% at Rs 2,329.
“After years of consolidation and under performance, the stock of Reliance is regaining lost ground on account of several positive developments. First, its multi-year investment phase is complete. Second, we see inflection points in its refining segment. Last, telecom business is likely to generate positive cash flow from 2018-19,” Amar Ambani, Head of Research, IIFL shared with AsiaOne News.
AsiaOne Magazine, Asia’s leading magazine, also reported that this boost in RIL’s position could be accredited to many changing factors of the establishment, Jio’s customer response being an important one in that list. According to the AsiaOne’s analysis, the company has captured about 11 crore customers within 8 months of its launch. Since Jio’s launch on September 5, 2016, the stock has gained nearly 39% to Rs 1,416 at closing time on 24th April 2017.
On the other hand, Donald Trump’s victory and later efforts to change the rules of workers in the USA and popular H1-B visa is leading to the reduction of margins for Indian software exporters such as TCS. Analysts have reported that TCS’s stock price has risen just 2% since the coming of Trump in the Presidency.
The other companies that have marked their names among the most valuable companies of India are HDFC, Infosys, and ITC.
The BSE data shows that RIL, with the m-cap of Rs 457,641 crore, was ahead of TCS that had an m-cap of Rs 457,386 crore at 09:37 am on 24th April 2017. The same day, RIL ended 1.2% higher at Rs 1,416 levels, while TCS was up 0.77% at Rs 2,329.
“After years of consolidation and under performance, the stock of Reliance is regaining lost ground on account of several positive developments. First, its multi-year investment phase is complete. Second, we see inflection points in its refining segment. Last, telecom business is likely to generate positive cash flow from 2018-19,” Amar Ambani, Head of Research, IIFL shared with AsiaOne News.
AsiaOne Magazine, Asia’s leading magazine, also reported that this boost in RIL’s position could be accredited to many changing factors of the establishment, Jio’s customer response being an important one in that list. According to the AsiaOne’s analysis, the company has captured about 11 crore customers within 8 months of its launch. Since Jio’s launch on September 5, 2016, the stock has gained nearly 39% to Rs 1,416 at closing time on 24th April 2017.
On the other hand, Donald Trump’s victory and later efforts to change the rules of workers in the USA and popular H1-B visa is leading to the reduction of margins for Indian software exporters such as TCS. Analysts have reported that TCS’s stock price has risen just 2% since the coming of Trump in the Presidency.
The other companies that have marked their names among the most valuable companies of India are HDFC, Infosys, and ITC.
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