Mumbai: Mukesh Ambani-led Reliance Industries Limited (RIL) on Monday trounced Tata Consultancy Services (TCS) to become the most valued company in terms of market capitalisation (m-cap) on the domestic bourses after a gap of four years.
After surging over 1 per cent ahead of its Q4 results, the stock of RIL commanded a m-cap of Rs 460,519 crore at the close of trade on the BSE as compared to Rs 458,932 crore enjoyed by IT bellwether TCS. The shares of TCS rose just 0.77 per cent on Monday. In 2017 till date, RIL has outperformed the market by rallying over 30 per cent as against a 11 per cent rise in the BSE Sensex.
Meanwhile, RIL reported a 12.3 per cent rise in net profits for the quarter ended March 2017 amidst strong growth in its refining and petro-chemical margins. The firm reported a net profit after tax of Rs 8046 crore for the January-March period as compared to Rs 7167 crore reported in the same period last year.
The gross refining margin, which is the difference between the cost of a barrel of oil and value of all the products made out of it stood at $11.5 per barrel as against $10.8 per barrel achieved in Q4FY16.
