Mumbai: Shake-up in the market capitalisation league continued to rattle India Inc, with IT major TCS grabbing the position of fourth most valued firm on Friday from state run power generation major NTPC.
Tata Consultancy Services today became the country's fourth largest corporate entity in terms of market capitalisation after corporate behemoth Reliance Industries, state run energy giant ONGC and another IT major Infosys Technologies.
Riding high on expectations for strong second quarter results, TCS' share price on Friday surged more than 2 per cent taking the company's market capitalisation to over Rs 1.08 lakh crore.
The country's largest software exporter toppled PSU power generation major NTPC as the country's fourth most valued corporate entity after a fall in the latter's market-cap to about Rs 1.07 lakh crore.
Until Wednesday this week, NTPC was the country's third most valued firm after ONGC and Reliance, before losing its place to Infosys.
In another major shake-up in the market-cap league, RIL replaced ONGC as the country's most valued firm earlier on Thursday.
RIL maintained its top position with a market cap of over Rs 1.65 lakh crore, followed by ONGC at second position with a market value of about Rs 1.64 lakh crore.
Infosys, the third largest firm in this league, today attained a market cap of over Rs 1.16 lakh crore after a jump of over 3 per cent in its share price.
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