Tata Consultancy Services (TCS) has become the country's third most valued company in terms of market capitalisation as the software giant toppled oil & gas major ONGC to grab the coveted place during the past week.

The market cap of the software company advanced by Rs 6,948.06 crore to Rs 2,32,642.58 crore. During the last week, the company's counter also attracted investors as the scrip gained 3 per cent to settle at Rs 1,188.65 on the Bombay Stock Exchange.

With a loss of Rs 11,164.9 crore from its m-cap, ONGC slipped to the fourth place. The market cap of the state-run firm stood at Rs 2,28,345.76 crore as on Friday's trade.

Commenting on ONGC's downfall, SMC Global Securities Strategist & Head of Research, Mr Jagannadham Thunuguntla, said, “The recent hike in oil subsidy burden on upstream companies from 33 per cent to 38 per cent is definitely making ONGC investors jittery.”

Reliance Industries continued being number one after it witnessed an addition of Rs 2,569.94 crore to its m-cap which stood at Rs 3,09,047.66 crore. Coal India, the second most valued firm, saw its valuation surging by Rs 7,863.87 crore to Rs 2,55,338.85 crore.

IT major Infosys Technologies, fifth on the list, added Rs 2,761.61 crore to take its market cap to Rs 1,64,295.9 crore.

Infosys was followed by ITC, NTPC, SBI, Bharti airtel and ICICI Bank.

ITC lost Rs 1,470.24 crore from its market cap which was at Rs 1,48,300.69 crore, while NTPC gained Rs 1,401.73 crore to Rs 1,45,202.55 crore. SBI's valuation slipped by Rs 4,435.41 crore to Rs 1,42,425.08 crore, while Airtel saw its m-cap diminishing by Rs 1,727.87 crore to Rs 1,41,989.27 crore.

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