RIL reclaims most valued co status, topples ONGC
Mumbai: Reliance Industries on Friday reclaimed the status of country's most valued company, replacing state-run energy major ONGC from the top position.
ONGC's reign at the top place proved to be short-lived as RIL overtook the company in the domestic market capitalisation (m-cap) chart today. ONGC had yesterday surpassed Reliance Industries to become country's most valued entity.
At the end of trade today, RIL commanded a m-cap of Rs 2,89,078 crore, while ONGC had a market value of Rs 2,84,427 crore.
Shares of RIL were up 0.78 percent at Rs 893.45, while ONGC fell by 2.12 percent to close at Rs 332.45.
TCS with a market cap of Rs 2,63,520 crore was at third place, ITC (Rs 2,43,556 crore) at fourth spot and Coal India (Rs 2,24,704 crore) at fifth position.
Market capitalisation or value of a listed company is arrived at by multiplying the total number of its shares with its stock price on a particular day or time. This figure changes daily with the change in the stock price.