The Hindu Business Line : MMTC becomes most valued PSU in terms of M-cap

MUMBAI: State-run commodity trading firm MMTC has become the country's most valued public sector firm, toppling oil exploration major Oil and Natural Gas Corporation (ONGC) from this position.

The market capitalisation of MMTC rose to Rs 2.75 trillion on the Bombay Stock Exchange today, the second highest across all private and public sector firms after Reliance Industries which has a market cap of Rs 3.89 trillion.

The shares of MMTC surged five per cent on BSE to touch its upper circuit limit of Rs 56,931.50. The scrip of the company settled at Rs 55,031.40, up 1.50 per cent at the end of today's trading.

The shares of ONGC declined 5.43 per cent and touched an intra-day low of Rs 1,168. It ended the day at Rs 1,179.50, down 4.78 per cent.

ONGC has become the third most valued firm on the Bombay Stock Exchange with a market capitalisation of Rs 2.52 trillion.

Another state-owned power major NTPC has a market capitalisation of Rs 2.09 trillion and is ranked fourth in the list, whereas NMDC with an market cap of Rs 1.78 trillion is in the fifth position.

In the list of top five most valued firms, there are four PSU companies - MMTC, ONGC, NTPC and NDMC - and only one private sector firm - Reliance Industries.

MMTC is a leading international trading company. It is also the first public sector enterprise to be accorded the status of 'five star export house' by Govt of India for long standing contribution to exports. It is also the largest non-oil importer in In dia. - PTI

Prev: Sensex ends 170 points lower on weak global trend
Next: Chinese tie-up helps Suryachakra Power

Business Line | NUS Index |