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Country’s top-10 cos add Rs 32,000 cr in a week; ONGC gains most

This article was posted on Jul 5, 2009 and is filed under Stock News

MUMBAI: The country’s top-10 firms added Rs 32,000 crore to their market capitalisation last week, with public sector oil firm Oil and Natural
Gas Corp (ONGC) contributing the major chunk.

ONGC added Rs 20,052 crore to its market-cap, taking the total valuation to Rs 2,42,687 crore during the week ending July 3. Shares of the company surged 9 per cent to settle at Rs 1,134.65 on the BSE at the end of Friday’s trade.

The coveted club, which comprises of four private sector and six public companies, added Rs 32,354 crore to their market valuation to Rs 16,04,896 crore.

The total market-cap of the elite club stood at Rs 15,72,541 crore in the previous week.

The club saw five companies – ONGC, National Thermal Power Corporation (NTPC), Bharti Airtel, Minerals and Metals Trading Corp (MMTC) and State bank of India – added Rs 39,414 crore to their market-cap, respectively.

Meanwhile, the other five firm including – Reliance Industries, National Mining Development Corp (NMDC), Bharat Heavy Electricals (BHEL), Infosys Technologies and Larsen & Toubro – lost Rs 7,060 crore in their market cap past week.

The country’s most-valued firm, RIL, lost Rs 441 crore from its market valuation, which stood at Rs 3,18,832 crore at the end of Friday’s trade. RIL had a market valuation of Rs 3,19,273 crore in the previous week.

Trading firm MMTC jumped to fourth place from fifth adding Rs 6,228 crore, while private telecom services provider Bharti Airtel slipped to fifth position from earlier fourth, even after adding Rs 1,466 crore to its market cap.

At the end of the week, total market valuation of MMTC stood at Rs 1,57,565 crore and Airtel at Rs 1,55,144 crore.

Mining firm NMDC lost Rs 4,024 crore from its market cap, while SBI added Rs 3,917 crore.

The total market valuation of NMDC stood at Rs 1,42,947 crore and SBI at Rs 1,14,955 crore for the week ended July 3.

Power equipment supplier BHEL lost Rs 952 crore and IT bellwether Infosys lost Rs 1,438 crore from their market cap.

The total market valuation of BHEL stood at Rs 1,06,816 crore and Infosys at Rs 1,03,202 crore.

Engineering and construction major Larsen & Toubro saw its market value erode by Rs 205 crore to stand at Rs 94,251 crore.

However, despite the erosion in market value RIL has retained its numero uno postion in the club of top 10 firms is followed by ONGC (Rs 2,42,687 crore), NTPC (Rs 1,68,496 crore), MMTC (Rs 1,57,565 crore), Bharti Airtel (Rs 1,55,144 crore), NMDC (Rs 1,42,947.26 crore), SBI (Rs 1,14,955 crore), Bhel (Rs 1,06,816 crore), Infosys (Rs 1,03,202 crore) and L&T (Rs 94,251 crore).

source: Economictimes

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