ONGC Market Cap Slips Below Zomato Despite Owning Assets Worth Over One-Third of Its Valuation

📉

’s market capitalisation has dropped to ₹3.09 lakh crore, falling behind Zomato (₹3.36 lakh crore), HAL (₹3.23 lakh crore), and Titan (₹3.13 lakh crore). Once India’s most valuable company in 2012, ONGC’s valuation has grown just 26% in 13 years, while peers have surged multifold. Despite this, ONGC holds valuable stakes worth ₹1.07 lakh crore across HPCL, MRPL, IOC, and GAIL, representing over one-third of its market cap. The company has earned ₹1.16 lakh crore in profit over the last three years and distributed dividends totaling ₹12.25 per ₹5 share. Meanwhile, Zomato’s FY25 profit stood at ₹527 crore. Oil Minister Hardeep Singh Puri said state-run oil PSUs remain deeply undervalued despite strong profitability.