After losing its position as the country’s most valued company to state-run Coal India, billionaire Mukesh Ambani-led Reliance Industries today slipped below another PSU major, ONGC, in the market valuation charts.
State-run ONGC pipped corporate giant Reliance Industries (RIL) in late morning trade to emerge as the country’s second-most valued company with a slightly higher market valuation.
At around 11.45 am, ONGC commanded a market valuation of Rs 2,38,528 crore on the BSE, which was a little over Rs 600 crore higher than that of RIL.
RIL’s market value stood at Rs 2,37,882 crore at that time, as its shares were trading 1.81 per cent down on the bourses. In contrast, the ONGC stock was trading with a gain of 1.07 per cent.
At the same time, Coal India Ltd (CIL) maintained its top position with a market capitalisation of Rs 2,50,580 crore.
At the end of yesterday’s trade, CIL had a market cap of Rs 2,46,780.36 crore, followed by RIL at the second position (Rs 2,42,267.27 crore) and ONGC at third (Rs 2,36,003.02 crore).
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