RIL is India's most valued company again, ONGC No 2

Reliance Industries Limited on Monday reclaimed the title of country's most valued company by market capitalisation, pipping state-run oil explorer Oil and Natural Gas Corporation.

Mukesh Ambani-led RIL commanded a market value of Rs 2,46,883 crore (Rs 2,468.83 billion) at close of market hours on Monday, higher than ONGC's Rs 2,35,233 crore (Rs 2,352.33 billion).

RIL shares attracted good buying support in a bullish market and closed up by 4.80 per cent at Rs 754.05 a piece on the Bombay Stock Exchange.

The stock lends maximum weight to the benchmark Sensex Sensex that rose 3.58 per cent -- the most in nearly six-months -- to close at 16,416.33.

ONGC's share prices, however, declined 1.10 per cent to Rs 274.95 a piece.

On Friday, ONGC had toppled RIL to claim the title of the country's most-valued company.

At the end of Friday's trade, RIL had a market cap of Rs 2,35,571 crore (Rs 2,355.71 billion) , while ONGC commanded a market value of Rs 2,37,842 crore (Rs 2,378.42 billion).

RIL had first toppled ONGC to become the country's most-valued firm in late 2006.

In the past few days, a game of musical chairs was being played out on bourses between RIL, CIL and ONGC for the title of country's most-valued

company.

Earlier on August 17, state-run Coal India Ltd dethroned RIL to become the country's top valued firm.

Two days later, RIL briefly slipped to third position in the valuation charts, after CIL and ONGC but only to reclaim the No 2 position by the time of market close.

CIL's stint at the top proved to be short-lived, with RIL reclaiming this position within six days on August 23.

A day later, on August 24, CIL lost further ground and slipped to third position in the valuation charts after RIL and ONGC.

CIL continues to be the country's third-most valued company, with a total market capitalisation of Rs 2,33,263 crore (Rs 2,332.63 billion) as on Monday.