Coal India overtakes Reliance Industries most valuable company

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Coal India overtakes Reliance Industries
Coal India: Quotes, News
BSE 237.05BSE Quote1.6 (0.67%)
NSE 237.95NSE Quote0.2 (0.08%)
Coal India today became the country's most valuable company by market capitalization. The spot was earlier commanded by Mukesh Ambani-led Reliance Industries.

In 2006, the spot bore the name of ONGC and RIL had toppled it to emerge as the country's most valued firm and has managed to stay on the top since then.

ONGC had also come very close to toppling RIL as the country's most valued firm last week, but lost ground in the past few trading sessions. The stock was trading 2.4 per cent higher at Rs 279.50, with a market cap of Rs 2,39,125 crore; in Wednesday's trade at 1220 hours.

While the top-three command a market cap in excess of Rs 2 lakh crore, the remaining carry valuations of more than Rs 1 lakh crore each.

View: Such information should not change the investment method of an investor. Being most valuable doesn't ensure that the company will provide more returns tot he shareholder. Though, in this case it would be interesting as both the companies belong to the commodity side of the business. And hence, their fortunes too are tied to the commodity industry.

Story first published: Wednesday, August 17, 2011, 13:41 [IST]
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