Within a week of losing its position of the country's most-valued company to State-run Coal India, billionaire Mukesh Ambani-led Reliance Industries Ltd today regained the top slot after a decent rise in its share price.
At the end of today's trade, Reliance Industries (RIL) commanded a market value of Rs 2,50,648 crore on the BSE, higher than any other listed company in the country.
In the process, RIL moved past Coal India, which had dethroned RIL as the country's most valued firm on August 17, on the market valuation charts.
RIL shares today rose by 1.23 per cent, outperforming a little below one per cent rise in the benchmark index Sensex, to settle at Rs 765.55.
At the same time, shares of Coal India under-performed the overall uptrend in the market and ended 0.9 per cent down at Rs 391.90. This brought down the State-run coal major's market valuation to Rs 2,47,538 crore.
Earlier in the day, CIL had even slipped below ONGC to the third position in market valuation charts, but PSU energy giant lost ground in the afternoon trade and its shares ended the day at Rs 279.15 with a 2.65 per cent decline – the maximum for any Sensex stock in today's trade.
ONGC had a market valuation of Rs 2,38,826 crore at the end of today's trade, making it the country's third most valued company after RIL and CIL.
In late morning trade, the shares of all three — RIL, CIL and ONGC — were trading in the red and losses were much sharper for the coal major.
At 1145 hrs, RIL had the top market value of Rs 2,46,507 crore on the BSE, followed by ONGC's Rs 2,42,847 crore and CIL's Rs 2,41,822 crore.
While RIL was down 0.44 per cent at Rs 752.90, ONGC was 1.01 per cent down at Rs 283.85 and CIL was trading 3.15 per cent lower at Rs 382.85 at that time.
However, RIL rebounded sharply in afternoon trade, CIL also pared some of its losses and ONGC lost further ground.
At the end of yesterday's trade, Coal India was ranked the most valued company with a market capitalisation of Rs 249,685.88 crore, followed by RIL's 249,685.88 crore and ONGC's 245,328.68 crore.
CIL toppled Reliance Industries on August 17 to emerge as the country's most valued firm, thus ending the private sector corporate giant's over four-year reign at the top of the market valuation charts.
Two days later on August 19, RIL briefly fell behind ONGC to the third position in the market valuation charts, but returned to the second slot before the market close that day.