ONGC scaled its highestever market capitalisation of Rs 3.56 trillion in intra-day trade on Friday, said the company on Sunday. It said that this indicates the hidden potential of the PSU to its investors.
“In intra-day trade on 16th May 2014, ONGC scrip logged a new peak of Rs 416.35 (on National Stock Exchange), taking its market capitalisation to highest ever value. However, with a 1.19 per cent gain during the day, scrip closed at Rs 384.15,” said ONGC in a statement.
During the first two months of this current fiscal 2014-15, ONGC scrip has gained 20.54 per cent on NSE, against Nifty’s 7.44 per cent growth during the same period.
“Thus, ONGC has outperformed the broa-der index Nifty by 13.10 per cent. ONGC’s market capitalisation is 51 per cent higher than the next highest valuable company am-ong the listed CPSEs,” said the company.It said that since its listing, ONGC scrip has created enormous wealth for its shareholders.
