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.



Other News

Governance Now journalists win award for best TB reporting

Governance Now on Thursday bagged the REACH Media Awards for 2017-2018 for best reporting (English category) on tuberculosis (TB) at an event co-hosted by REACH, USAID and Lilly Global Health in partnership with the Lancet Commission on Tuberculosis. Our cover story

Simple facts about Special Status states

N Chandrababu Naidu-led Telugu Desam Party (TDP) on Friday parted ways from the BJP-led National Democratic Alliance (NDA) at the centre. The official quitting of the alliance was preceded by the pulling out of two ministers out of the Narendra Modi government, a week ago. The

Peak performance

What is Narendra Modi’s biggest electoral success during the current term as prime minister? At first blush, most would say the Uttar Pradesh victory. That would be looking at the obvious (UP is the heart of the Hindi heartland) and at mere numbers (it has the maximum Lok Sabha seats). Yes, it was a

On a dangerous tangent

The killing of a seven-year-old boy at Ryan International School, Gurgaon, suddenly brought focus on violence by students in school. It was a gruesome case indeed: On September 8 last year, Barun Chandra Thakur dropped his children, including seven-year-old Pradyuman, at school around 8 am. By the time he

Juvenile crime and punishment

Like our jails, our correction centres for juvenile offenders are hardly conducive to bringing about positive change. No one will dispute the fact that an underaged criminal, especially if he or she is a first-timer, needs to be given a chance to reform, however heinous the crime. Unfortunately, society&rs

If you’re happy and you know it...

Finland has emerged as the world’s happiest country, as per the World Happiness Report 2018. The report has ranked 156 countries by their happiness levels, and 117 countries by the happiness of their immigrants. This year, the main focus of the report is on migration within and between countries.

Current Issue

Current Issue


CM Nitish’s convoy attacked in Buxar


Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter