Mumbai: Mukesh Ambani-led Reliance Industries on Friday regained its position as the country's most valued company from Tata group firm TCS, as a game of musical chairs continued for this spot between the two.

 At the end of Friday’s trade, Reliance Industries Ltd (RIL) commanded a market valuation of Rs 234,745.47 crore, higher than Tata Consultancy Services' Rs 229,180.79 crore.

RIL scrip rallied 2.52 per cent to close at Rs 716.90 at the BSE - a stellar performance in a flat market, where the barometer the Sensex closed with a marginal gain of 10.65
points or 0.07 per cent.

In comparison, TCS shares settled with a marginal loss of 0.13 per cent at Rs 1,170.95 a piece.

The market valuation of a listed company corresponds to the total value of all its shares and it changes daily along with the stock price.

TCS had first replaced RIL as the country's most valued firm on December 30, 2011, but slipped back to the second position in the very next trading session on January 2, 2012.

TCS again pipped RIL to the pole position yesterday, but was pushed to the second slot in Friday’s trade. RIL's market value rose by about Rs 5,800 crore, while that of TCS dipped by close to Rs 300 crore.

RIL shares had fallen 2.34 per cent on Thursday, while that of TCS had slipped 0.17 per cent in a flat market.

However, RIL is managing only a narrow lead of about Rs 5,000 crore over TCS in the market valuation charts, and the movement in their share prices would be keenly watched in the coming days.

The third-most valued firm, state-owned ONGC, is also not far behind with a market value of Rs 218,849.44 crore.

Another PSU, Coal India is ranked fourth with a market value of Rs 200,955.13 crore, while IT giant Infosys is fifth with Rs 162,536.80 crore.

RIL has been the country's most influential stock, as also the top-valued company for a long time.

But, it has been briefly replaced at the top position by three companies (Coal India, ONGC and TCS) since August, 2011.

Recently, RIL was also replaced by Infosys as the most influential stock in Indian stock market, measured in terms of their weights on the barometer index Sensex.

At the end of Friday’s trade, Infosys commanded a Sensex weightage of 10.62 per cent, as against RIL's 9.93 per cent.

Besides RIL, another group company RIIL also gained 2.74 per cent, while shares of Anil Ambani-led Reliance group firms also rallied ahead in a flat market.

RCom gained 5.4 per cent, R-Power rose 3.45 per cent, R-Infra surged 5.3 per cent, R-Cap by 5.2 per cent, Reliance MediaWorks 7.5 per cent and Reliance Broadcast Network by 1.2 per cent.