RIL regains lost glory pips CIL as most-valued firm

Within a week of losing its position as the country’s most-valued company to state-run Coal India, Mukesh Ambani-led Reliance Industries Ltd (RIL ) on Tuesday regained the top slot after a rise in its share price.

At the end of on Tuesday’s trade, RIL commanded a market value of Rs 2,50,648 crore on the Bombay Stock Exchange, higher than any other listed company in the country. In the process, it moved past Coal India, which had become the country’s most valued company in market valuation on August 17. RIL shares on Tuesday rose 1.23 per cent, outperforming a little below one per cent rise in the Sensex, to settle at Rs 765.55.

At the same time, shares of Coal India under-performed 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 the 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 most for any Sensex stock in on Tuesday’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 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.

Two days later on August 19, RIL had briefly fallen behind ONGC to the third position in the market valuation charts, but returned to the second slot before the market closed.