Mumbai: Reliance Industries on Monday reclaimed the numero-uno position in the domestic market capitalization charts, racing past state-run ONGC to emerge as the country's most-valued company yet again.
With a market value of Rs 2,42,283 crore at 10:27 hours this morning, RIL surpassed ONGC's market cap of Rs 2,38,270 crore to reclaim the top position.
On Friday, ONGC had toppled billionaire Mukesh Ambani-led Reliance Industries to claim the title of the country's most-valued company.
Shares of RIL went up by 3.49 percent to touch an early high of Rs 744.65 on the BSE on Monday. The surge in the bellwether stock was a significant contributor to the overall bullish trend in the market, with the benchmark Sensex trading higher by 348.39 points at 16,197.22 at 10:27 hours.
The share price of ONGC, too, rose by 1.43 percent to touch an early peak of Rs 282 on the BSE.
At the end of Friday's trade, RIL had a market cap of Rs 2,35,571 crore, while ONGC commanded a market value of Rs 2,37,842 crore.
RIL had first toppled ONGC to become the country's most-valued firm way back in late 2006, but the state-run energy giant later reclaimed the top position, albeit only for a few brief period.
In the past few days, a veritable game of musical chairs has been played out between the country's most-valued firms on the bourses.
Earlier, on August 17, state-run Coal India Ltd (CIL) had dethroned RIL to become the country's top-valued firm.
Then, two days later on August 19, RIL briefly slipped to third position in the valuation charts, after CIL and ONGC, only to reclaim the No. 2 position by the market close.
CIL's stint at the top proved to be short-lived, with RIL reclaiming this position within six days on August 23.
A day later, on August 24, CIL lost further ground and slipped to third position in the valuation charts after RIL and ONGC.
CIL continues to be the country's third-most valued company, with total market capitalization of Rs 2,31,052 crore this morning.