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ONGC trails Zomato in mcap despite a stronger asset base

Millennium Post Delhi

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New Delhi 13October2025

ONGC was India’s most valuable company with a mcap of Rs 2.44L cr in 2012, ahead of IT giant TCS & energy major Reliance Industries

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ONGC trails Zomato in mcap despite a stronger asset base

State-owned ONGC, valued at around Rs 3.10 lakh crore, now trails food delivery firm Zomato despite its stakes in subsidiaries and minority investments accounting for over a third of its market capitalisation, indicating India’s largest oil and gas producer is potentially undervalued.

At the close of trading on Friday, Oil and Natural Gas Corporation (ONGC) had a market value of Rs 3.097 lakh crore, lower than Rs 3.36 lakh crore of Eternal Ltd (formerly known as Zomato), Hindustan Aeronautics Ltd (Rs 3.23 lakh crore) and Titan (Rs 3.13 lakh crore), according to BSE data.

ONGC was India’s most valuable company with a market capitalisation of Rs 2.44 lakh crore in 2012, ahead of IT giant TCS and energy major Reliance Industries. While ONGC’s market capitalisation rose by just 26 per cent over the past 13 years, other listed firms have seen quantum jumps.

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