Mumbai: State-owned energy major ONGC on Tuesday 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 on Tuesday, 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 per cent 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 per cent 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.
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