TCS overtakes ONGC as India's most valuable company
23 April 2013
Tata Consultancy Services Ltd (TCS), India's leading software services company, today overtook state-owned Oil and Natural Gas Corp Ltd (ONGC) to become the country's most-valued company, helped by a rise in its share price.
In morning trade, TCS's market value surged to Rs2.8 trillion, the highest for any listed company in the country. This is about Rs2,555 crore more than ONGC's market capitalisation of Rs2.7 trillion.
Shares of TCS were trading 0.67 per cent higher on the Mumbai Stock Exchange, while ONGC's scrip fell by 0.96 per cent.
ONGC's reign at the top proved short-lived, as it had surpassed TCS to become the most valued company only last Thursday.
Mukesh Ambani's Reliance Industries Ltd was in third position with a market capitalisation of Rs258 trillion, followed by now-diversified tobacco major ITC Ltd (Rs2.49 trillion) and Coal India Ltd (Rs1.98 trillion).
Market capitalisation or the value of a listed company is arrived at by multiplying the total number of its shares with its stock price on a particular day or time.
This figure changes daily with changes in the stock price.