Bharti Airtel reclaims India's second-largest company status by market value

Bharti Airtel reasserted its position as the country's second most valuable company on Friday, ending a brief period of leadership by Jio Platforms. The telecom major's shares closed 1.66 per cent higher at Rs 2,096.25 on the BSE, with intraday trading reaching Rs 2,120, reflecting a gain of 2.81 per cent. The market capitalization reached Rs 13 lakh crore by close of business.

Jio Platforms, the digital services subsidiary of Reliance Industries, experienced a reversal of fortunes. The company's stock declined 0.90 per cent to Rs 1,405.75 at market close, having touched an intraday low of Rs 1,390. This movement reduced its market valuation to Rs 12.94 lakh crore, relinquishing the second-place position it had held since its listing on October 28.

Reliance Industries continues to hold the top position in India's market capitalization rankings, maintaining a valuation of Rs 17,83,723.93 crore. The shifts in the rankings underscore the dynamic nature of India's equity markets, with major companies frequently adjusting their relative valuations based on stock performance and investor sentiment.