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| 8 of top-10 cos lose Rs 37,000 cr in m-cap |
| Press Trust of India / Mumbai Aug 15, 2010, 11:55 IST |
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Eight of the country's top-ten firms lost a whopping Rs 37,000 crore from their combined market capitalisation during the past week, with trading firm MMTC suffering the maximum loss.
MMTC, at the seventh position in the list of the country's largest firms by market capitalisation, saw its m- cap fall by Rs 18,050 crore to Rs 1,39,570 crore in the week ended August 13.
During the week, shares of the trading major fell by over 11 per cent to settle at Rs 1,395.70 at the end of Friday's trade on the Bombay Stock Exchange.
Meanwhile, on a weekly basis, the Sensex recorded an increase of 0.12 per cent on the BSE to settle at 18,167.03 at the end of the week.
Mukesh Ambani-led corporate behemoth Reliance Industries (RIL) saw an erosion of Rs 6,951.39 crore in its m-cap, even though it maintained its numero-uno status in the list. The market valuation of RIL stood at Rs 3,20,270.75 crore.
With an m-cap of Rs 2,73,080.23 crore, energy giant ONGC stood at second place. The company added Rs 9,635.61 to its m-cap during the week.
Boosted by strong quarterly results, the country's largest lender, State Bank of India, saw its m-cap swell by Rs 14,564.15 crore to Rs 1,80,902.71 crore.
SBI, on Thursday, posted a jump of 25 per cent in net profit for the April-June quarter to Rs 2,914.2 crore, compared to Rs 2,330.37 crore in the same period a year-ago. This was followed by a rally in the company's scrip, as a result of which the lender secured third place in the coveted club, replacing TCS.
Two IT firms -- TCS and Infosys Technologies -- together lost a sum of Rs 6,524 crore from their combined m-cap. TCS slipped to fourth spot from third position in the previous week, while Infosys fell to sixth place from fifth place in the previous week.
Software exporter TCS's m-cap stood at Rs 1,67,732 crore at the end of the week, while that of IT bellwether Infosys was Rs 1,59,555.68 crore.
Even after losing Rs 1,442.96 crore from its m-cap, power producer NTPC jumped to fifth spot from sixth rank last week with a valuation of Rs 1,61,239.97 crore.
State-run Bhel, at eighth place, saw its m-cap decline by Rs 579.55 crore to Rs 1,22,125.45 crore.
The country's largest private telecom operator, Bharti Airtel, witnessed an erosion of Rs 1,936.74 crore in its m-cap to Rs 1,20,457.33 crore.
FMCG firm ITC was last in the list. During the week, it lost Rs 2,141.96 crore from its m-cap, which stands at Rs 1,19,393 crore.
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