ONGC beats Infosys in market capitalisation

Experts believe that the shares of ONGC have started moving up mainly because of rise in global crude oil prices

GN Bureau | October 15, 2016


#ONGC   #HDFC   #Reliance Industries   #TCS   #ITC   #market capitalisation  

 Oil and Natural Gas Corporation Ltd (ONGC), country’s largest oil and gas exploration and production company, beat India’s second largest software exporter Infosys Ltd to become the fifth most valuable company in India by market capitalisation.

Data from BSE showed that ONGC had a market capitalisation of Rs 2.37 trillion. In the last three months, ONGC shares have gained over 19.72 percent and have gained 14.32 percent so far this calendar year, according to a news report published in Mint. Experts believe that the shares of ONGC have started moving up mainly because of rise in global crude oil prices.
 
However, there is the overhang of a follow-on public offer from the government in the near term which can keep ONGC stock prices in check. Whereas shares of Infosys fell 2.34 percent to Rs 1,027.4 and its market capitalisation stood at about Rs 2.36 trillion. The company said that its revenue for the three-month period ended September 30 totalled $2.58 billion, compared with $2.5 billion in the June quarter.
 
TCS is India’s most valuable company with a market capitalisation of Rs 4.66 trillion, followed by Reliance Industries Ltd, HDFC Bank Ltd and ITC Ltd at Rs 3.49 trillion, Rs 3.21 trillion and Rs 2.90 trillion, respectively, report added.

Comments

 

Other News

Central Bank Digital Currency has game-changing potential

When discussing digital currency, you might think of one or two well-known varieties. There is the digital representation of currency that you access with mobile and online banking services. This currency is the liability of a commercial bank. There is also cryptocurrency, a digital medium of exchange issu

An Insider’s Account of the Zail Singh Years: The Endgame

The Indian President: An Insider’s Account of the Zail Singh Years By K.C. Singh HarperCollins, 312 pages, Rs.699  

‘My Father Was a Simple Man’: Remembering Gen. Rawat

Bipin: The Man Behind the Uniform By Rachna Bisht Rawat Penguin, 207 pages, Rs 599 On the morning of 8 December 202

A Mind and Heart without Corners

In Love, At Ease: Everyday Spirituality with Pramukh Swami By Yogi Trivedi Penguin Random House, 360 pages, Rs 499 Spirituali

Mumbai air quality dips, BMC swings into action

Taking note of Mumbai’s rising air pollution and deteriorating air quality in the recent months, the BMC has attributed rising dust levels to different large-scale development and construction works combined with changes in the wind speed conditions. It has constituted a seven-member committee, which

‘Seasonal Influenza’: health ministry keeps watch on situation

Given an unusual uptick in the cases of “seasonal influenza” in the recent days, the health ministry Friday said that it was keeping a close watch on the situation in various states/UTs through the Integrated Disease Surveillance Programme (IDSP) network on real-time basis. The

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter