Mumbai: Tata Consultancy Services (TCS) has emerged as the country’s third most valued company as far as market capitalization is concerned. (Agencies)
The market cap of the country's largest software company advanced by Rs 6,948.06 crore to Rs 2,32,642.58 crore. During the last week, the company's counter also attracted investors as the scrip gained 3 per cent to settle at Rs 1,188.65 on the Bombay Stock Exchange.
With a loss of Rs 11,164.9 crore from its m-cap, ONGC slipped to the fourth place. The market cap of the state-run firm stood at Rs 2,28,345.76 crore as on Friday's trade.
Commenting on ONGC's downfall, SMC Global Securities Strategist & Head of Research Jagannadham Thunuguntla said, "The recent hike in oil subsidy burden on upstream companies from 33 per cent to 38 per cent is definitely making ONGC investors jittery".
Reliance Industries continued to hold the numero-uno position after it witnessed an addition of Rs 2,569.94 crore to its m-cap which stood at Rs 3,09,047.66 crore.
Coal India, the second most valued firm, saw its valuation surging by Rs 7,863.87 crore to Rs 2,55,338.85 crore.
IT major Infosys Technologies was at fifth position and added Rs 2,761.61 crore to take its market cap to Rs 1,64,295.9 crore.
Infosys was followed by ITC, NTPC, SBI, Bharti airtel and ICICI Bank.
FMCG major ITC lost Rs 1,470.24 crore from its market cap which was at Rs 1,48,300.69 crore, while power producer NTPC gained Rs 1,401.73 crore to Rs 1,45,202.55 crore.
Mumbai: Tata Consultancy Services (TCS) has emerged as the country’s third most valued company as far as market capitalization is concerned.