State-owned energy major ONGC today surpassed software giant TCS to become country's most valued company with a market capitalisation of Rs 2.44 lakh crore.
At end of trade today, ONGC commanded a market value of Rs 2,44,515 crore, the highest for any listed company in the country on the back of 3.34% rise in its share price.
On the other hand, TCS's m-cap stood at Rs 2,42,822 crore. Shares of the IT company gained 0.73% to Rs 1,240.65 on the BSE. With this, the Tata group flagship firm slipped to third spot in the list of most-valued listed companies.
State-run ONGC surpassed TCS, which had dethroned the energy major as the country's most valued firm on July 27.
Reliance Industries Ltd (RIL), with m-cap of Rs 2,43,249 crore was at second position, Coal India (Rs 2,26,946 crore) at fourth place and ITC (Rs 2,01,480 crore) at fifth spot.
This month, there has been a change in the top slot four times. On July 3, ONGC had pipped TCS; on July 16 ONGC had regained the numero uno position, then again on July 27, TCS reclaimed the position while today ONGC grabbed the top slot.
Market capitalisation of a listed company corresponds to the cumulative market price of all its shares. This figure changes daily with the change in the stock price.
