UMBAI: Country’s top 10 companies, including Reliance Industries and ONGC, witnessed an erosion of over Rs 3.17 trillion from their combined market capitalisations in October, as the bourses bore the brunt of the global financial crisis. The combined market cap of the elite club saw an erosion of Rs 3,17,510 crore in the past month dropping to Rs 9,92,000 crore.

With the market witnessing a free-fall last month, country’s most valued firm Reliance Industries lost Rs 61,539 crore in its market value and state-run oil producer ONGC lost Rs 79,801 crore in its market value dipping to Rs 1,43,261 crore.

RIL, which announced its second quarter results last week, had dipped below the crucial Rs 2,00,000-crore mark during the month.

Notwithstanding the fall in valuation, the Mukesh Ambani -led firm retained its numero-uno position with Rs 2,15,727 crore market cap on Friday, against Rs 2,77,266 crore on October 1.

The Bombay Stock Exchange benchmark Sensex lost over 3,200 points in the month of October to end at 9,788.06. The barometer Sensex was quoting at 13,055.67 points on October 1.

Besides, the elite club of top 10 firms, comprising four private sector and six public sector entities, witnessed a shuffle in the rankings, with PSU firm NMDC dipping to the 10th slot from 7th. Also state-run MMTC dipped from the 5th slot, while Bhel moved up to the 8th place from 9th.

According to the list, RIL is followed by ONGC (Rs 1,43,261 crore), Bharti Airtel (Rs 1,23,189 crore) NTPC (Rs 1,15,889 crore), Infosys (Rs 79,099 crore), SBI (Rs 70,439 crore), MMTC (Rs 66,479 crore), BHEL (Rs 62,737 crore), ITC (Rs 58,021 crore), NMDC (Rs 57,032 crore).

source: Economictimes

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