Coal India, not ONGC, is now country's most valued PSU
Coal India acquires the market capitalization of Rs 2.5 lakh crore and become the country's most valued public sector company. With this position it has surpassed oil and gas major ONGC.
After Reliance Industries which has the market capitalization of Rs 3.01 lakh crore Coal India Ltd (CIL) become the second most valuable company of India.
CIL had broken the ONGC limit of Rs 2.37 lakh.
Company’s share reaches its 52-week high of Rs 400.90 and closed with a gain of 2% at Rs 396.05 per share.
The company has offered an initial public offering in October 2010 and declares its success six months after it was listed on bourses.
On Tuesday's weak market, the shares of ONGC and Coal India went in opposite directions which have created an important change in India Inc's market capitalization table.
CIL has made its blockbuster entry on November 5 last year and since then it is hitting hard to defeat oil and gas major ONGC and become the most valuable state-run company.
And now it claims to be among most-valuable company in India at second position, after the petrochem-to-explorations major Reliance Industries (RIL).
