ONGC pips RIL to become most valued company

State-owned energy major ONGC on Thursday surpassed Reliance Industries to become country's most valued company with a market capitalisation of Rs 2.9 lakh crore.

At end of trade on Thursday, ONGC commanded a market value of Rs 2,90,587 crore, the highest for any listed company in the country. Shares of ONGC closed with a gain of 0.44 per cent at Rs 339.65 on the Bombay Stock Exchange.

On the other hand, RIL's m-cap stood at Rs 2,86,845 crore. Shares of the company ended 1.39 per cent lower at Rs 886.55. With this, the company slipped to second position in the domestic market cap chart.

TCS with a market value of Rs 2,62,805 crore was at third place, while ITC (Rs 2,42,178 crore) was at fourth spot and Coal India (Rs 2,23,315 crore) at fifth position.

Market cap 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.