New Delhi, June 9 -- Reliance Industries Ltd. (RIL), India's largest company by market capitalisation, has slipped to the third position in terms of weightage in the benchmark Nifty 50 index, with ICICI Bank overtaking it as the second-largest constituent.

Although Reliance Industries commands the highest overall market capitalisation of nearly Rs.17.14 lakh crore on the NSE, its free-float market capitalisation stands at a little over Rs.8.52 lakh crore. As a result, the company currently holds an 8.27% weight in the Nifty 50 index.

In comparison, ICICI Bank has a total market capitalisation of more than Rs.9.09 lakh crore, while its free-float market capitalisation stands at Rs.9.05 lakh crore on the NSE - higher than Reliance Industr...