ONGC scales highest-ever market cap of Rs 3.56 trillion

Tags: ONGC, Companies
Riding the wave Narendra Modi's election created in stock markets, state-owned Oil and Natural Gas Corp's (ONGC) market capitalisation has touched an all-time high of Rs 3.56 trillion.

"In intra-day trade on May 16, 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 3 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.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Bureaucrats have enjoyed flying miles at taxpayer expense for too long

    The beleaguered Indian taxpayer will certainly applaud prime minister Narendra Modi’s attempt to deliver on his promise of cutting down fiscal defic

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Varun Dutt

<b>Riskfactor</b>: CHAIN REACTION

A domino effect is the cumulative effect produced when one ...

Zehra Naqvi

Rememberance and forgetting are crucial

Memories are so vital to our lives that they can ...

Dharmendra Khandal

Sandalwood may get extinct if not protected

When we talk of sandalwood, the most common usage that ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture