RIL overtakes ONGC to become second most valued company
Posted on: 03:24 AM IST Jun 19, 2013
Mumbai: Reliance Industries on Tuesday toppled state-run oil major ONGC to become the country's second most valued firm after TCS. Shares of ONGC on Tuesday fell by 1.47 per cent, bringing its market valuation down to Rs 2,63,466 crore, which was lower than RIL's m-cap of Rs 2,66,548 crore at close.
Reliance Industries dropped by 0.18 per cent on BSE. IT major TCS holds the top slot with a market value of Rs 2,83,483 crore on BSE. ITC with Rs 2,60,879 crore m-cap is the fourth most valued company followed by Coal India (Rs 1,91,449 crore).
Market capitalisation or the value of a listed company is arrived at by multiplying the total number of its shares with stock price on a particular day or time. This figure changes every day with the change in the stock price.