In major worry for Mukesh Ambani Asias richest man his flagship company Reliance Industries now faces the possibility of losing its coveted spot as the countrys most valued firm by Tata Consultancy Services as the Tata Group company is rapidly closing the market capitalization gap between the two firms. According to latest market data the market cap (Mcap) of Mukesh Ambani-led Reliance Industries has slumped to Rs 16.55 lakh losing around Rs 4.5 lakh crore in valuation since June 28 2024 when its Mcap had hit an all-time high crossing Rs 21 lakh crore. Reliances stock has plunged by 24 percent since its historic high on June 8 2024. The conglomerates stock closed at Rs 1222 on December 24 2024 a decline of 24 percent from the all-time high of Rs 1608 on June 8 2024. Owing to its gradual decline in the recent months Reliance now facing losing its title as the most valued company in India to Tata Groups TCS which has a market cap of Rs 15.12 lakh crore. Reliance Industries and TCS have a Rs 1.43 lakh crore difference in market cap according to latest data and the Tata Group company is expected to overtake the Mukesh Ambani-led conglomerate if the current trend continues. HDFC Bank which has a market cap of Rs 13.74 lakh is ranked third on the list of the ten most valued companies in India followed by ICICI Bank Bharti Airtel Infosys State Bank of India ITC Hindustan Unilever (HUL) and LIC India. Meanwhile despite Reliance Industries mediocre showing at the market its Chairman Mukesh Ambani remains the richest man in India and all of Asia boasting a real time net worth of $95.4 billion as of December 25 2024 according to Forbes Real Time Billionaires. Mukesh Ambani is also the 18th wealthiest person globally as per Forbes.