State-owned ONGC today toppled software exporter TCS to becomes the country8217;s most valued company with its market capitalisation soaring to over Rs 2.48 lakh crore,driven by a spurt in share price.
During the afternoon trade,ONGC commanded a market value of over Rs 2.48 lakh crore 8212; the highest for any listed company in India. This is about Rs 5,500 crore more than Tata Consultancy Services8217; TCS market value of around Rs 2.42 lakh crore.
A sharp gain of 1.59 per cent in ONGC8217;s share price today pushed the company to the top slot. In comparison,TCS fell by 1.61 per cent.
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.
Reliance Industries with a market capitalisation of Rs 2.40 lakh crore stood at the third position,followed by Coal India Rs 2.24 lakh crore and ITC Rs 1.93 lakh crore.
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