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ONGC overtakes Tatas in market capitalisation
By siliconindia
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Friday, 17 September 2004, 19:30 IST
NEW DELHI: Oil and Natural Gas Corp (ONGC) has surpassed Tatas in market capitalisation, with its market value of Rs 104,114.5 crore being more than that of all the 26 listed firms of Tata Group.
Tata Group's market capitalisation, based on Thursday's closing price, was about Rs 97,666 crore. This included Rs 48,215 crore market capitalisation of recently listed Tata Consultancy Services.
According to industry analysts, ONGC's Thursday's closing price of Rs 730.15 on the Bombay Stock Exchange puts its market value at Rs 104,114.57 crore, making it the biggest firm in Indian history by market capitalisation.
Together with its subsidiary Mangalore Refinery and Petrochemicals Ltd (MRPL), ONGC Group market capitalisation climbs to Rs 112,011.39 crore, making it the largest Group. At Rs 45.05 closing price, MRPL is valued at Rs 7896.82 crore.
Reliance Group firms are third by market capitalisation, with a total value of Rs 87,231,22 crore - Rs 68,562.13 crore of Reliance Industries, Rs 11,712.22 crore of Reliance Energy, Rs 17,2754 crore of Reliance Capital, Rs 108.41 crore of Reliance Industries Infrastructure Ltd and Rs 5,120.89 crore of IPCL.
Analysts said the total market capitalisation of 26 listed firms of Tata Group had marginally breached the Rs 1,03,125 crore mark last week, mostly on the strength of TCS but has since stayed below that magical figure.
TCS alone added Rs 47,232 crore to the Tata group's market capitalisation on the day of its listing, while the other 25 listed companies acounted for a m-cap of Rs 52,800 crore.