ONGC overtakes TCS to become most valued firm

ONGC overtakes TCS to become most valued firm Mumbai: State-owned energy major ONGC on Thursday became the country's most-valued company with market capitalisation of over Rs 2.86 lakh crore, surpassing Tata Group's software services company TCS.

At the end of the day's trade, ONGC commanded a market value of Rs 2,86,223 crore, the highest for any listed company in India. This is about Rs 2,289 crore more than Tata Consultancy Services' market capitalisation of Rs 2,83,934 crore.

Shares of ONGC ended 1.73 percent higher, while those of TCS dipped 0.58 percent at the end of Thursday's trade.

Reliance Industries with a market capitalisation of Rs 2,52,968 crore is the third most valued company, followed by ITC (Rs 2,49,144 crore) and Coal India (Rs 1,89,017 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 daily with the change in the stock price.

PTI