ONGC surpasses TCS to become most valued firm
July 17, 2012
Mumbai, PTI: The State-owned ONGC today became the country’s most-valued company with market capitalisation of over Rs 2.42 lakh crore, surpassing Tata Group’s software services company TCS.
During morning trade on Monday, energy major ONGC commanded a market value of over Rs 2,42,8.90 billion, the highest for any listed company in India. This is about Rs 11.05 billiom more than Tata Consultancy Services’ market capitalisation of around Rs 2,41,7.85 billion.
The ONGC stock was trading 0.49 per cent lower at 1050 hrs on the BSE. TCS was down 1.14 per cent.
On July 3, ONGC had toppled TCS to become the country’s most valued company. But its rein at the top spot was shortlived, as the very next day TCS regained the slot.
Reliance Industries with a market capitalisation of Rs 2,34,7.85 billion was in the third position, followed by Coal India (Rs 2,24,1.67 billion) and ITC (Rs 1,98,8.22 billion).
TCS has been ruling the market capitalisation chart for the past two months. On May 2, the software giant had replaced RIL as the country’s most valued company.
Market capitalisation or the value of a listed company is arrived at by multiplying the total number of its shares with its stock price on a particular day or time. This figure changes daily with the change in the stock price.