Apple has become the first company to reach a trillion-dollar market capitalisation, beating old foes such as Microsoft as well as younger tech rivals Amazon and Alphabet to the milestone.
To put that in perspective, Apple’s market cap equals about 38 per cent of India’s total GDP in 2017, when it became the world’s sixth largest economy.
Meanwhile here in India, it’s a see saw between Reliance Industries and Tata Consultancy Services….
Tata Consultancy Services reclaimed the country’s most valued firm status by market capitalisation, pushing Reliance Industries Ltd to the second spot.(02/08/2018)
Reliance Industries had became the country’s most valued firm by m-cap, replacing Tata Group’s crown jewel TCS from the top slot a day earlier.
However, RIL’s reign was short-lived as it slipped to the second spot in the m-cap ranking with a market valuation of Rs 7.54 trillion on BSE on Wednesday (01/08/2018).
On the other hand, the m-cap of TCS stood at Rs 7.56 trillion, which is Rs 14.08 billion more than that of RIL’s valuation.
Shares of TCS rose 1.74 per cent to settle at Rs 1,975.10 on BSE and RIL gained 0.45 per cent to end the day at Rs 1,191.15.
TCS had first replaced RIL as the most valued firm more than five years ago.
The IT major in mid-June become the first Indian company to close the trading session with a market valuation of over Rs.7 trillion.
The m-cap figure of companies changes daily with stock price movement.
