ONGC m-cap zooms to Rs 2.05 lakh cr

The market capitalisation of Oil & Natural Gas Corporation (ONGC) zoomed past the Rs 2 lakh crore mark in today's trading.

With an equity base of 142.59 crore shares, the market capitalisation of ONGC touched the Rs 2 lakh crore-mark when the stock price hit Rs 1,402.

The stock closed with a gain of 4.4% (Rs 61) at Rs 1,440 today. The company now has a market cap of Rs 2,05,330 lakh crore.

Wipro was the first company to hit the Rs 2 lakh crore-mark in 2000.

Wipro hit the magic Rs 2 lakh crore market cap on February 18, 2000 when the stock closed at Rs 8,912. The scrip continued to rally, and hit an all-time high of Rs 9,800 on February 22, 2000, and the market cap zoomed to a record Rs 2.25 lakh crore.

So, ONGC needs to add Rs 138 to overtake the Wipro record in market-cap. The target for ONGC stock price would be Rs 1,580 to cross the market cap of Rs 2.25 lakh crore.