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Eight out of top-10 cos lose over Rs 20k cr from m-cap

This article was posted on Jun 13, 2010 and is filed under Press Releases

MUMBAI: In a week that saw the benchmark index Sensex regaining the 17,000-level, eight out of the top-10 firms lost over Rs 20,000 crore from their market capitalisation, with IT major Infosys emerging as the biggest loser.

Meanwhile, two companies — Reliance Industries and BHEL — added Rs 8,062.29 crore to their market capitalisation for the week ended June 11.

Out of the eight firms, which lost a whopping sum of Rs 20,311.5 crore from their market capitalisation (m-cap), IT bellwether Infosys Technologies emerged as the biggest loser by losing Rs 5,563.18 crore from its market valuation, taking its total to Rs 1,51,121.24 crore.

Infosys Technologies’ shares fell by 3.55 per cent to settle at Rs 2,633.60 at the end of Friday’s trade on the Bombay Stock Exchange (BSE).

During the past week, the BSE benchmark barometer Sensex soared 52.74 points, or 0.30 per cent, to settle at Rs 17,064.95.

Corporate behemoth Reliance Industries Ltd (RIL) maintained its top position by adding Rs 5,073.77 crore to its m-cap, taking its total market valuation to Rs 3,42,191.76 crore.

Buoyed by acquisition of Internet service provider Infotel, RIL’s share gained 3.03 per cent in yesterday’s trade on the BSE, while during the week, the scrip surged 3.65 per cent to close at Rs 1,046.25.

Two state-run firms — ONGC and NTPC — together lost Rs 4,087.24 crore from their market valuation.

The country’s second most valued firm, ONGC, lost Rs 2,149.56 crore from its m-cap, taking its valuation to Rs 2,52,333.19 crore, and power producer NTPC, at third place, saw its valuation falling by Rs 1,937.68 crore to Rs 1,64,290.79 crore.

Infosys Technologies stood at fourth place and the country’s largest software exporter TCS, at the fifth spot, saw its valuation declining by Rs 1,242.82 crore to end the week at Rs 1,48,531.91 crore.

The country’s largest public sector lender SBI, at sixth position, witnessed its valuation going down by Rs 241.26 crore to finish at Rs 1,48,434.94 crore.

Trading firm MMTC, at seventh place, lost Rs 4,751.5 crore from its m-cap, taking its total valuation to Rs 1,43,337 crore, while power equipment manufacturer BHEL, at the eight spot, saw its valuation surge by Rs 2,988.52 crore to Rs 1,17,107.87 crore.

FMCG firm ITC, at ninth place, saw its valuation declining by Rs 3,760.93 crore and private telecom services provider Bharti Airtel, at last place, lost Rs 664.57 crore from its m-cap.

At the end of the week, ITC’s m-cap stood at Rs 1,07,253.24 crore and Bharti Airtel, which replaced mining firm NMDC, saw its valuation at Rs 1,04,260.91 crore. PTI

source: Economic Times

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