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Top 10 cos add Rs 37k cr in a week; ONGC leads gain

This article was posted on Mar 22, 2009 and is filed under Press Releases

MUMBAI: The country’s 10 most valued firms continued their gaining streak by adding over Rs 37,000 crore to their market capitalisation last week, with the state-run ONGC accounting for over one-third of the total gain.

The Oil and Natural Gas Corp (ONGC) added Rs 10,502 crore last week to its valuation, after its shares surged nearly 7 per cent on the Bombay Stock Exchange.

At the end of Friday’s trade, the country’s most valued PSU entity ONGC’s market cap stood at Rs 1,61,495 crore, against Rs 1,50,994 crore a week ago.

The elite club of top-10 firms, comprising four private entities and six public sector companies, gained Rs 37,212 crore during last week, taking the total valuation to Rs 10,24,177 crore.

In the previous week, the valuation of the club was at Rs 9,86,966 crore.

Mukesh Ambani-led Reliance Industries, the country’s most valued firm, added Rs 8,845 crore to its valuation. At the end of Friday’s trade, RIL had a market cap of Rs 2,10,661 crore.

The shuffling in the premier club saw state run MMTC replacing BHEL at the sixth spot. MMTC rose one spot after adding Rs 4,983 crore to its valuation, while BHEL moved down by a notch to the seventh despite adding Rs 284 crore.

Power utility NTPC added Rs 6,060 crore in a week to its valuation taking its market cap to Rs 1,46,398 crore.

Telecom services provider Bharti Airtel and diversified conglomerate ITC Ltd added Rs 2,013 crore and Rs 1,562 crore, respectively, to their valuation. Also IT bellwether Infosys Technologies added Rs 57 crore to its market cap last week.

Two state-run firms — NMDC and SBI — added Rs 2,874 crore and Rs 32 crore, respectively, to their valuation.

Apart from the top 10 most valued firms, two private- sector lenders, ICICI Bank and HDFC Bank, together added Rs 1,717 crore to their valuation last week.

While, ICICI Bank saw its market cap surge by Rs 1,581 crore to Rs 35,947 crore, HDFC Bank added Rs 136 crore to Rs 35,633 crore at the end of trade on Friday last week.

RIL, the numero-uno in the list, is followed by ONGC (Rs 1,61,495 crore), NTPC (Rs 1,46,398 crore), Bharti Airtel (Rs 1,08,067 crore), Infosys (Rs 74,291 crore), MMTC (Rs 71,123 crore), BHEL (Rs 67,549 crore), ITC (Rs 63,969 crore), SBI (Rs 60,539 crore), NMDC (Rs 60,085 crore).

source: Economictimes

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