ONGC achieves yet another milestone in capital market
20 May 2014 3:47 AM IST
Riding Narendra Modi’s wave created in stock markets during the general elections, state-owned Oil and Natural Gas Corp's (ONGC) market capitalisation has touched an all-time of Rs 3.56 trillion.
‘In intra-day trade on 16 May, ONGC scrip logged a new peak of Rs 416.35 on the National Stock Exchange, taking its market capitalisation to highest ever value. However, with a 1.19 per cent gain during the day, scrip closed at Rs 384.15,’ the company said in a statement here.
This fiscal, ONGC scrip has gained 20.54 per cent on NSE, outpacing 7.44 per cent gain in Nifty.
‘ONGC has outperformed the broader index Nifty by 13.10 per cent. ONGC's market capitalisation is 51 per cent higher than the next highest valuable company among the listed Central PSU,’ it said.
Since listing in July 1995, the scrip of India's flagship explorer ONGC has created enormous wealth for its shareholders.
After being promoted by the Government of India with a capital of 343 crore over 22 years during 1959 and 1981, the Maharatna oil major has created wealth for its stakeholders.
The world's number three Exploration & Production company (Platts 2013) is also the highest profit-making Indian company for the last quite a few fiscals. ‘ONGC remains committed to create more value for all its stakeholders,’ the statement added.
Meanwhile, the combined market valuation of top nine Sensex firms advanced by a whopping Rs 1.39 lakh crore with energy majors ONGC and RIL emerging as the star performers, while TCS saw a marginal dip last week when stock market recorded life-time highs.
Barring TCS, which is the most valued Indian firm in terms of market capitalisation, the rest nine of the top 10 including ITC, CIL and HDFC Bank saw a cumulative addition of Rs 1,39,604.22 crore in their m-cap. RIL’s value soared Rs 26,876.26 crore to Rs 3,49,245.93 crore. Coal India’s m-cap zoomed by Rs 23,117.9 crore to Rs 2,18,325.14 crore.
The m-cap of SBI gained Rs 18,037.2 crore to Rs 1,80,245.14 crore, HDFC Bank surged Rs 11,404.92 crore to Rs 1,93,211.33 crore and ICICI Bank added Rs 10,411.5 crore to end with Rs 1,69,230.12 crore valuation.
ITC’s market value jumped Rs 9,583.59 crore to Rs 2,84,366.06 crore, Tata Motors’ m-cap rose Rs 4,186.09 crore to Rs 1,21,180.09 crore and Infosys’ valuation moved up by Rs 4,160.34 crore to Rs 1,82,483.64 crore.In contrast, TCS’ m-cap declined Rs 714.93 crore to Rs 4,22,605.36 crore.The top-10 companies list has TCS at the number one position, followed by RIL, ONGC, ITC, CIL, HDFC Bank, Infosys, SBI, ICICI Bank and Tata Motors.
The Sensex had surged 1,470 points to hit a new life-time high of 25,375.63 on Friday fuelled by hopes that the BJP government would fast-track reforms and accelerate economic activity. It later closed at a record 24,121.74, a gain of 216.14 points.
Over the past week, the Sensex gained 1,127.51 points to 24,121.74.
‘In intra-day trade on 16 May, ONGC scrip logged a new peak of Rs 416.35 on the National Stock Exchange, taking its market capitalisation to highest ever value. However, with a 1.19 per cent gain during the day, scrip closed at Rs 384.15,’ the company said in a statement here.
This fiscal, ONGC scrip has gained 20.54 per cent on NSE, outpacing 7.44 per cent gain in Nifty.
‘ONGC has outperformed the broader index Nifty by 13.10 per cent. ONGC's market capitalisation is 51 per cent higher than the next highest valuable company among the listed Central PSU,’ it said.
Since listing in July 1995, the scrip of India's flagship explorer ONGC has created enormous wealth for its shareholders.
After being promoted by the Government of India with a capital of 343 crore over 22 years during 1959 and 1981, the Maharatna oil major has created wealth for its stakeholders.
The world's number three Exploration & Production company (Platts 2013) is also the highest profit-making Indian company for the last quite a few fiscals. ‘ONGC remains committed to create more value for all its stakeholders,’ the statement added.
Meanwhile, the combined market valuation of top nine Sensex firms advanced by a whopping Rs 1.39 lakh crore with energy majors ONGC and RIL emerging as the star performers, while TCS saw a marginal dip last week when stock market recorded life-time highs.
Barring TCS, which is the most valued Indian firm in terms of market capitalisation, the rest nine of the top 10 including ITC, CIL and HDFC Bank saw a cumulative addition of Rs 1,39,604.22 crore in their m-cap. RIL’s value soared Rs 26,876.26 crore to Rs 3,49,245.93 crore. Coal India’s m-cap zoomed by Rs 23,117.9 crore to Rs 2,18,325.14 crore.
The m-cap of SBI gained Rs 18,037.2 crore to Rs 1,80,245.14 crore, HDFC Bank surged Rs 11,404.92 crore to Rs 1,93,211.33 crore and ICICI Bank added Rs 10,411.5 crore to end with Rs 1,69,230.12 crore valuation.
ITC’s market value jumped Rs 9,583.59 crore to Rs 2,84,366.06 crore, Tata Motors’ m-cap rose Rs 4,186.09 crore to Rs 1,21,180.09 crore and Infosys’ valuation moved up by Rs 4,160.34 crore to Rs 1,82,483.64 crore.In contrast, TCS’ m-cap declined Rs 714.93 crore to Rs 4,22,605.36 crore.The top-10 companies list has TCS at the number one position, followed by RIL, ONGC, ITC, CIL, HDFC Bank, Infosys, SBI, ICICI Bank and Tata Motors.
The Sensex had surged 1,470 points to hit a new life-time high of 25,375.63 on Friday fuelled by hopes that the BJP government would fast-track reforms and accelerate economic activity. It later closed at a record 24,121.74, a gain of 216.14 points.
Over the past week, the Sensex gained 1,127.51 points to 24,121.74.
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