ONGC wears top market cap, again
Oil and Natural Gas Corporation Limited (NSE: ONGC) has regained its position as the most valuable listed corporation of India. Its scrip surged on opening on the bourses on 3rd July 2012 and reached an intra-day High of 289.80. With a total equity float of 855.55 crores, the market capitalisation of the oil major peaked to 247,938 crore.
ONGC is now a clear 2 per cent ahead of its nearest rival (IT major) in market capitalisation, and around 2.6 per cent higher than the 3rd. ONGC ruled as the top market company earlier during a major part of last decade, before losing the spot to the largest private sector group, which is currently at the 3rd position.
Notes to Editors :
ONGC has been largest wealth creator in independent India. After being formed with a capital of 342 crore, the Maharatna oil major has created unprecedented wealth for its owners, the billion plus Indian citizens. The world’s number 2 Exploration & Production company (Platts 2011) is also the highest profit-making company in India for the last quite a few fiscals.
Oil and Natural Gas Corporation Ltd.
Corporate Communications, New Delhi,