Reliance Industries (RIL) on Wednesday toppled state-run oil company ONGC to become the country’s most valued firm.

At close today, RIL commanded the highest market value of Rs 2, 44,101 crore among the listed companies.

On the other hand, ONGC’s market worth stood at Rs 2, 39,767 crore, as per data available on the BSE.

Shares of ONGC fell by 1.94 per cent pushing the company to the third position in the list of market valuation.

However, RIL settled for the day higher by 0.35 per cent.

Way back in 2006, RIL had toppled ONGC to emerge as the country’s most valued firm and has managed to stay on the top since then, except for a few brief periods in the last few months.

TCS on May 2 replaced Reliance Industries as the country’s most valued company.

Last month, there had been frequent changes in the top slot amid volatile market conditions.

On July 3, ONGC had pipped TCS to gain the top position.

On July 16, ONGC had regained the numero uno position but on July 27, TCS reclaimed the position.

Yesterday, ONGC had surpassed software giant TCS to become country’s most valued company.

At close today, TCS with a market cap of Rs 2,40,268 crore was at the second spot, followed by CIL (Rs 2,20,756 crore) at fourth and ITC (Rs 2,02,301 crore) at fifth position.

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