OREANDA-NEWS. July 12, 2012. Oil and Natural Gas Corporation Limited (NSE: ONGC) has regained its position as the most valuable listed corporation of India. Its scrip surged on opening on the bourses on 3rd July 2012 and reached an intra-day High of 289.80. With a total equity float of 855.55 crores, the market capitalisation of the oil major peaked to 247,938 crore.

ONGC is now a clear 2 per cent ahead of its nearest rival (IT major) in market capitalisation, and around 2.6 per cent higher than the 3rd. ONGC ruled as the top market company earlier during a major part of last decade, before losing the spot to the largest private sector group, which is currently at the 3rd position.

ONGC has been largest wealth creator in independent India. After being formed with a capital of 342 crore, the Maharatna oil major has created unprecedented wealth for its owners, the billion plus Indian citizens. The world’s number 2 Exploration & Production company (Platts 2011) is also the highest profit-making company in India for the last quite a few fiscals.