ITC topples ONGC to become second most valued company
Mumbai: FMCG major ITC Tuesday surpassed state-run energy giant ONGC to become the county's second most valued firm in terms of market valuation, with TCS at the top of chart.
ONGC came behind ITC in the ranking of top-10 companies.
At the end of today's trade, ITC commanded a market capitalisation of Rs 2,64,908 crore, which is about Rs 972 crore more than ONGC's Rs 2,63,936 crore value.
ONGC's shares ended the day 3.91 percent lower at Rs 308.50, while ITC lost 0.59 percent to close the day at Rs 335.25 on the BSE.
IT major TCS with Rs 2,93,318 crore market cap is the most valued Indian firm. RIL with Rs 2,54,444 crore market value was at fourth position, followed by Coal India (Rs 1,96,881 crore).
Market capitalisation or the 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 every day with the change in the stock price.