Reliance Industries Limited (RIL) left ONGC behind on Wednesday and became India’s most valued firm. RIL managed to command the highest market value of Rs 2,44,101 crore, as per data available from BSE.
ONGC dropped to third place in the market evaluation list after its shares fell by 1.94 percent.As per data available from BSE, ONGC has a market worth Rs 2,39,767 crore.
However, RIL settled for the day higher by 0.35 per cent.
Back in 2006, Reliance had left ONGC behind and emerged as India’s most valued firm and managed to stay on the top. But its position wobbled during the last few months. On 2nd May, TCS snatched RIL’s position and became the most valued firm of India.
Last month the market was volatile and there were frequent changes in the top position for most valued firm.
- 3rd July: ONGC defeated TCS to get the top position
- 16th July: ONGC regained its position by removing TCS from the top
- 27th July: TCS claimed its position as most valued firm back
- 31st July: ONGC got past software giant TCS to become India’s most valued firm
- 1st August: Reliance defeated everyone making its way to the top as most valued firm
Reliance leaded with its market value of Rs 2,44,101 crore followed by TCS with Rs 2,40,268 crore. TCS was closely followed by ONGC with their Rs 2,39,767 crore market value. CIL (Rs 2,20,756 crore) and ITC (Rs 2,02,301 crore) got fourth and fifth positions respectively.
Source: The Hindu