The market capitalisation of Oil and Natural Gas Corporation is fast approaching the magic Rs 1 lakh crore (Rs 1 trillion) mark on the Bombay Stock Exchange.

The scrip, which touched all-time high of Rs 663 on Tuesday, now has a market capitalisation of Rs 92,999.41 crore (Rs 9,299.941 billion), leaving other Sensex bigwigs such as Reliance Industries, HLL and Indian Oil much behind.

The ONGC scrip will just need another Rs 48 to touch Rs 1 lakh crore. In the last two trading sessions, the stock rose from Rs 614 (Friday's close) to Rs 663 before cooling off to Rs 652 at the close on Tuesday.

Market watchers point out recent hardening of international crude oil price will mean a windfall gain for the domestic company. Crude oil prices were above $31 a barrel in the last few weeks.

The rise was mainly triggered by holiday season travel demand in the US as well as start of winter oil buying there. In winter, demand for heating oil would soar.

The upward revision of product price (petrol and diesel) in the domestic market on August 31 has also pushed the stocks of refining and marketing companies to a new high.

Movers & shakers
ONGC	92,999.41
Reliance	58,298.76
IOC	45,259.70
HLL	42,252.87
Wipro	26,340.48
Infosys	25,702.64
SBI	23,196.62
ITC	20,987.77
SAIL	16,211.82
HPCL	14,453.76
(M-cap figures in Rs crore (Rs billion))

The market cap of Indian Oil Corporation is now at Rs 45,259.7 crore (Rs 452.597 billion), while that of Hindustan Petroleum rose to Rs 14,453.76 crore (Rs 144.376 billion) as on Tuesday.

The market cap of Bharat Petroleum now stands at Rs 10,055 crore (Rs 100.55 billion). All these stocks were now close to their year's high.