Tata Consultancy Services (TCS) on Friday toppled
state-owned Oil and Natural Gas Corporation (ONGC) to become the country's most valued company with its market capitalisation soaring to over Rs 2.38 lakh crore, driven by a spurt in share 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.
During the afternoon trade, TCS commanded a market value of over Rs 2,38,223 crore - the highest for any listed company in India. This is about Rs 1,065 crore more than ONGC's market value of around Rs 2,37,158 crore.
A sharp
gain of 1.77 per cent in TCS's share price on Friday pushed the company to the top slot. In comparison, ONGC, was trading at Rs 277.20, almost flat compared to its previous closing price.
Reliance Industries with a market capitalisation of Rs 2.36 lakh crore stood at the third position, followed by Coal India (Rs 2.23 lakh crore) and ITC (Rs 1.99 lakh crore).
With inputs from PTIDisclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
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