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

COP28 discusses climate resilient development in Himalayas

Impacts and implications of Climate Change Vulnerability in the Himalayan Region and ways of creating ‘Climate Resilient Development in Indian Himalayan Region by making mountain communities green and resilient were discussed the side event hosted at the India pavilion at the UN Climate Conference CO

Air Pollution: What needs to be done to tame the silent killer

Air pollution in Delhi has been in headlines, as every year in recent times. Mumbai too has suffered from air pollution, despite being a coastal city. Apart from many other metros such as Bangalore and Kolkata, tier-I and -II cities and rural areas also have high pollution levels. Every year reports and st

Free food grains for 81.35 cr beneficiaries for five years

The central government will provide free food grains to about 81.35 crore beneficiaries under the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) for a period of five years with effect from January 1, 2024, the cabinet decided on Wednesday. Terming it as a “historic decision”, a

“I wrote ‘Survival at Stake’ to provide food for thought about solutions”

Survival at Stake: How Our Treatment of Animals Is Key to Human Existence By Poorva Joshipura HarperCollins, 328 pages, Rs 499 With science now recognising animal consciousness, intelligence, emotion, and even morality, there must rise an awareness of

‘Bon Voyage’ through the Arctic: Exploring new horizons for India

India`s tryst with trade through the Arctic regions, including the Northern Sea Routes (NSR), has become an impact-making endeavor recently. The Arctic of yore is now a pivot – point of geopolitics, of climate change discussions, and for economic opportunities; 40% of oil and gas reserves said to be

Demystifying Contemporary Finance Theory and other lessons in investment

Investing Decoded: Simple Path To Building A Portfolio In Millions By Anirudh Rathore Penguin India, 320 pages, Rs 499

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