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Top 10 cos gain Rs 2,651 cr in a week

This article was posted on Jan 18, 2009 and is filed under Stock Research

MUMBAI: The country’s 10 most valued firms added a meagre Rs 2,651 crore to its market capitalisation last week, while five of them saw a value erosion of nearly Rs 17,000 crore during the period. Besides, the country’s most valued firm Reliance Industries alone added Rs 10,599 crore to its valuation in a week, taking its total market-cap to Rs 1,91,752 crore at the end of trade on Friday.

The RIL scrip gained nearly 6 per cent to settle at Rs 1,218.40 per share on the BSE on the last trading session.
During the week, the market-cap of top 10 firms – comprising six from public and four from private sectors – witnessed a total gain of Rs 2,651 crore in their valuation to Rs 10,22,604 crore.

The market-cap of the 10 companies as on January 9 was at Rs 10,20,313 crore.

Of the five firms which lost a hefty Rs 16,956 crore in a week, PSU entities suffered the most. While state-run trading firm MMTC saw its valuation plunge by Rs 7,230 crore, ONGC saw its value erode by Rs 4,780 crore.
Also State Bank of India witnessed a fall of Rs 3,200 crore in its market-cap and power equipment maker BHEL lost Rs 930 crore in its market-cap.

Besides, private sector cellular operator Bharti Airtel lost Rs 816 crore from its valuation, which stood at Rs 1,20,129 crore at the end of trade on Friday.

Meanwhile, two PSU entities – NMDC and NTPC added combined Rs 3,782 crore to their valuation in a week.

Mining giant NMDC staged a comeback to the premier club of the country’s most valued firms by adding Rs 2,291 crore to its valuation.

The shuffling in the elite club saw NMDC replacing FMCG major HUL at the 10th place. During the week HUL lost Rs 2,806.32 crore and slipped from the coveted club.

Besides, power utility NTPC added Rs 1,443 crore and remained the most valued PSU entity in the country with a market-cap of Rs 1,48,295 crore.

During the week, software major Infosys Technologies’ added Rs 4,189 crore to its valuation and regained the seventh position replacing BHEL.

The IT bellwether, which beat street expectations by reporting a 33.3 per cent jump in its December quarter net profit at Rs 1,641 crore, saw its valuation increase to Rs 72,625 crore at the end of trade on Friday.

Diversified conglomerate ITC added Rs 1,037 crore in a week to its market cap which increased to Rs 64,964 crore at the end of trade on Friday.

Besides, private sector banking giant ICICI Bank saw an erosion of about Rs 3,440 crore from its valuation. While, the second largest private sector lender HDFC Bank added Rs 1,492 crore during the week.

At the end of Friday’s trade, market-cap of ICICI Bank stood at Rs 47,197 crore and that of HDFC Bank was at Rs 44,529 crore.

RIL, the numero-uno in the list of the most valued firms, is followed by NTPC (Rs 1,48,294 cr), ONGC (Rs 1,38,631 cr), Bharti Airtel (Rs 1,20,129 cr), MMTC (Rs 83,592 cr), SBI (Rs 73,625 cr), Infosys (Rs 72,625 cr), BHEL (Rs 68,418 cr), ITC (Rs 64,964 cr) and NMDC (Rs 60,204 crore).

source: Economictimes

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