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5 of top 10 firms lose over Rs 40k cr in m-cap last week

This article was posted on Feb 6, 2011 and is filed under Market News

The combined market capitalisation (m-cap) of five of the country’s top-10 firms declined by Rs 40,695.4 crore last week, with state-run power producer NTPC emerging as the biggest loser.

The market valuation of NTPC fell by Rs 12,409.41 crore to Rs 1,45,738.51 crore as shares of the company declined by 7.84% to close at Rs 176.75 at the end of the week’s trade on the Bombay Stock Exchange (BSE) on Friday.

Last week, NTPC posted a small 0.25% rise in net profit to Rs 2,371 crore for the quarter ended December 31, 2010.

FMCG giant ITC also saw its valuation slip by Rs 11,884.95 crore to Rs 1,18,000.58 crore during the week.

Two of the top IT firms, TCS and Infosys Technologies, witnessed a Rs 14,042.49 crore dip in their market capitalisation. The m-cap of sector bellwether TCS stood at Rs 2,24,706.13 crore at the end of trade on Friday, while that of Infosys Technologies was Rs 1,74,897.05 crore.

Private sector lender ICICI Bank also saw its market capitalisation erode by Rs 2,358.51 crore from to Rs 1,14,465.96 crore on Friday.

Meanwhile, among the gainers, Reliance Industries and ONGC registered good gains in their market capitalisation during the past week. State-run oil & gas explorer ONGC saw its valuation swell by Rs 11,699.62 crore to Rs 2,54,589.7 crore.

Similarly, the market capitalisation of the country’s most valued firm, Reliance Industries (RIL), advanced by Rs 1,636.53 crore to Rs 3,00,956.95 crore.

State-run Coal India also added Rs 2,431.8 crore to its valuation, which rose to Rs 1,94,543.89 crore during the week. The country’s largest lender State Bank of India’s m-cap also rose by Rs 1,787.49 crore to Rs 1,68,062.8 crore.

In addition, top telco Bharti Airtel saw its m-cap go up by Rs 1,784.83 crore to Rs 1,26,001.71 crore.

During the week, the Bombay Stock Exchange benchmark Sensex fell by 2.1% to close at 18,008.15 on Friday.

source: Business Standard

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