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Top-10 firms add Rs 29,000 crore in a week

This article was posted on Jun 7, 2009 and is filed under Stock News

MUMBAI: The country’s top 10 firms added Rs 29,000 crore to their market capitalisation last week, with public sector trading firm MMTC contributing the major chunk.

During the week ending June 5, state-owned MMTC was the biggest gainer and added Rs 33,201 crore to its market capitalisation.

It jumped to the fourth place in the club of top 10 firms with a total valuation of Rs 1,71,040 crore.

Shares of the company surged 24 per cent to settle at Rs 34,208.05 on the BSE at the end of Friday’s trade.

The top-10 coveted club, which comprises of four private sector and six public companies, added Rs 29,777 crore to their total market valuation.

The total market capitalisation of the 10 firms stood at Rs 16,88,213 crore during the week ending June 5 as against Rs 16,58,436 crore in the previous week.

The country’s most-valued firm, Reliance Industries, lost Rs 10,332 crore from its market valuation, with its total market cap standing at Rs 3,48,101 crore at the end of Friday’s trade.

The company had a market valuation of Rs 3,58,433 crore in the previous week.

Two state-run firms Oil and Natural Gas Corporation (ONGC) and public sector trading firm NTPC together added Rs 4,520 crore.

At the end of Friday’s trade, the market cap of ONGC stood at Rs 2,52,526 crore and NTPC at Rs 1,81,153 crore.
The club saw a change in the ranking of mining firm NMDC as it slipped to fifth position from third after losing Rs 12,528 crore and private telecom services provider Bharti Airtel fell to sixth position even after adding Rs 978 crore.

At the end of the week, market cap of NMDC stood at Rs 1,65,526 crore and market valuation of Bharti Airtel stood at 1,56,573 crore.

IT bellwether Infosys Technologies added Rs 5,072 crore to its market valuation, while SBI lost Rs 3,251 crore from its market cap during last week.

Engineering and construction major Larsen & Toubro which entered into the top-10 club replacing ICICI Bank at 10th place added Rs 6,743 crore to its market valuation.

Besides the top-10 firms, two private sector lender ICICI Bank added Rs 1,165 crore to its market cap, while HDFC Bank lost Rs 961 crore from its market valuation.

During the week, the market cap of ICICI Bank stood at Rs 83,624 crore, while HDFC Bank’s valuation was at Rs 60,404 crore.

In the club of top 10 firms, RIL is followed by ONGC (Rs 2,52,526 crore), NTPC (Rs 1,81,153 crore), MMTC (Rs 1,71,040 crore), NMDC (Rs 1,65,526 crore), Bharti Airtel (Rs 1,56,573 crore), SBI (Rs 1,15,415 crore), Bhel (Rs 1,11,973 crore), Infosys (Rs 96,838 crore) and L&T ( Rs 89,069 crore).

source: Economictimes

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