Oil and Natural Gas Corporation on Tuesday toppled software exporter Tata Consultancy Services to becomes the country's most valued company with its market capitalisation soaring to over Rs 2.48 lakh crore (Rs 2.48 trillion), driven by a spurt in share price.
During the afternoon trade, ONGC commanded a market value of over Rs 2.48 lakh crore -- the highest for any listed company in India.
This is about Rs 5,500 crore (Rs 55 billion) more than TCS' market value of around Rs 2.42 lakh crore (Rs 2.42 trillion).
A sharp gain of 1.59
per cent in ONGC's share price on Tuesday pushed the company to the top slot.
In comparison, TCS fell by 1.61 per cent.
Market capitalisation of a listed company corresponds to the cumulative market price of all its shares.
This figure changes daily with the change in the stock price.
Reliance Industries with a market capitalisation of Rs 2.40 lakh crore (Rs 2.4 trillion) stood at the third position, followed by Coal India (Rs 2.24 lakh crore or Rs 2.24 trillion) and ITC (Rs 1.93 lakh crore or Rs 1.93 trillion).
