Reliance Industries tops m-cap table

Reliance Industries Ltd (RIL) is India's most valuable company. The market capitalisation of the country's biggest private enterprise today surpassed that of Oil and Natural Gas Corporation (ONGC) for the first time in the last four-and-a-half years.

The market value of the company has appreciated by 68.6 per cent since its demerger on January 18, 2006. In absolute terms, the valuation rose from Rs 96,689 crore on January 18 to Rs 1,63,028 crore today. The stock price moved from Rs 693 to Rs 1,169 during the period.

The Mukesh Ambani-controlled Reliance Industries' scrip rose 2.3 per cent today. ONGC, too, rose 0.35 per cent to Rs 1,132.

At this price, its market capitalisation stood at Rs 1,61,535 crore.

Reliance Industries' share price is now close to its all-time high of Rs 1,195. The company will announce its second quarter results on October 19.

On April 1, 2002, ONGC (Rs 46,771 crore) had surpassed Reliance Industries' (Rs 41,952 crore) in market capitalisation. Before that Reliance Industries ruled the roost for more than two years, from December 1999 to March 2002.

In the last four-and-a-half years, the Reliance Industries share price rose 286 per cent from Rs 300.95 on April 1, 2002 to Rs 1,162 today. The ONGC price gained 244 per cent to Rs 1,128.10 (Rs 328).

Information technology major Infosys grabbed the third position in market capitalisation yesterday, toppling another public sector outfit, National Thermal Power Corporation (NTPC).