TCS topples ONGC to become most valued company in India
MDT/PTI 27 July 2012

Market cap of TCS increased to Rs2.39 lakh crore, pushing ONGC to second spot with a market cap of Rs2.37 lakh crore. RIL is at third position with a market cap of Rs2.36 lakh crore, while Coal India and ITC are at fourth and fifth place with market cap of Rs2.23 lakh crore and Rs1.99 lakh crore, respectively


Mumbai: Software services exporter Tata Consultancy Services (TCS) on Friday toppled state-owned Oil And Natural Gas Corp Ltd (ONGC) to become the country's most valued company with its market capitalisation soaring to over Rs2.4 lakh crore, driven by a spurt in share price, reports PTI.
 
At the end of trading on Friday, TCS commanded a market value of over Rs2,39,906 crore, the highest for any listed company in India. This is about Rs2,577 crore more than ONGC's market value of around Rs2,37,329 crore.
 
A sharp gain of 1.9% in TCS's share price today pushed the company to the top slot. In comparison, ONGC, closed at Rs277.4, almost flat compared to its previous closing price.
 
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 Rs2.36 lakh crore stood at the third position, followed by Coal India (Rs2.23 lakh crore) and ITC (Rs1.99 lakh crore).
 
Meanwhile, private sector lender HDFC Bank on Friday surpassed state-run State Bank of India (SBI) as the country's most valued bank with a total market valuation of about Rs1.4 lakh crore.
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