Reliance Ind. becomes India's most valuable firm

MUMBAI (Reuters) - Reliance Industries Ltd. edged past Oil and Natural Gas Corp. on Thursday to become India's most valuable company with a market capitalisation of $35.2 billion.
Shares of Reliance Industries, which operates India's biggest refinery and owns the country's largest gas field, were trading at 1,153 rupees at 0553 GMT, having risen 0.9 percent.
Shares of state-run ONGC, India's biggest oil exploration and production firm, were down 0.35 percent at 1,125 rupees in a flat Mumbai market.
Infosys Technologies, India's second-largest software exporter, ascended to the third position on Wednesday after it reported strong quarterly earnings, beating forecasts.