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Top 10 firms lose Rs 21,000 cr in a month

This article was posted on Mar 1, 2009 and is filed under Press Releases

The country’s top-10 firms lost over Rs 21,000 crore from their market capitalisation in February, with Reliance Industries (RIL) alone accounting for close to half of the value erosion from the elite club.The valuation of Mukesh Ambani-led RIL dipped below Rs 2,00,000 crore mark after losing Rs 9,466 crore last month. During February, the scrip lost nearly 4.53 per cent to settle at Rs 1,265.05 on Friday’s trade.

RIL, saw its valuation dipping to Rs 1,99,094 crore at the end of February from Rs 2,08,559.98 crore on January 30.

The coveted club of country’s most valued 10 firms, comprising of four private entities and six public companies lost a combined Rs 21,549 crore during the month to end at Rs 10,23,135 crore.

The top four companies –RIL, NTPC, ONGC and Bharti Airtel — managed to maintain the January rankings in terms of market-cap last month as well.

State-run NTPC, even after losing Rs 4,370 crore from its market cap remained at second position, while ONGC and private sector telecom service provider Bharti Airtel added Rs 7,048 crore and Rs 532 crore, respectively in their market valuation to settle at third and fourth position.

Meanwhile, state-run trading major MMTC, diversified conglomerate ITC and BHEL jumped up from their last month position to notch fifth, sixth and eight position at the end of the month.

MMTC lost Rs 2,115 crore in a month, while ITC and BHEL added a combined nearly Rs 5,000 crore to their market valuation.

Besides, companies which lost their last month’s positions were IT bellwether Infosys Technologies (seventh position), country’s largest public sector lender SBI (ninth position) and largest iron ore producer NMDC (tenth position).

These three companies saw an erosion of over Rs 18,138 crore from their market valuation.

Apart from the list of top 10 most valued firms, two private sector lenders ICICI Bank and HDFC Bank witnessed a combined erosion of over Rs 11,506 crore from its valuation during the month.

While, ICICI Bank saw its valuation plummeting by Rs 9,819 crore to Rs 36,526 crore, HDFC Bank lost Rs 1,688 crore to Rs 37,637 crore at the end of trade on Friday.

Meanwhile, during the week the country’s top-10 firms added over Rs 11 crore to their market valuation, with RIL gaining Rs 1,809 crore in terms of market valuation.

RIL, the numero-uno in the list of the most valued firm, is followed by NTPC (Rs 1,51,881 crore), ONGC (Rs 1,47,828 crore), Bharti Airtel (Rs 1,20,850 crore), MMTC (Rs 70,298 crore), ITC (Rs 69,029 crore), Infosys (Rs 70,509 crore), BHEL (Rs 68,252 crore), SBI (Rs 65,209 crore) and NMDC (Rs 60,085).

source: Business-Standard

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