Small BusinessFive of top-10 firms lose Rs 25K cr in m-cap
After a promising start during the first week of the year, five of the country"s top 10 companies saw an erosion of nearly Rs 25,000 crore from their market capitalisation (m-cap), while PSU oil firm ONGC added over Rs 8,000 crore to its kitty.
- Eight of top-10 cos add Rs 22,000 cr in m-cap - Top-10 cos add Rs 70,000 cr in m-cap - Seven of top-10 firms lose Rs 46,000 cr in m-cap - Indian ADRs add $5.33 bn in a week - Nine of top-10 firms add Rs 49,000 cr in m-cap - Top 10 firms lose Rs 40,000 cr last week
During the week ended January 8, NTPC, NMDC, Infosys Technologies, TCS and Bharti Airtel together lost over Rs 24,546.71 crore from their m-cap.
Outsourcing firm TCS was the biggest loser during the week shedding Rs 9,639.21 crore from its m-cap slipping by a notch to the eighth position. Its m-cap stood at Rs 1,37,101.86 crore.
The companies which were able to buck the losing trend were RIL, ONGC, MMTC, SBI and BHEL. These together added Rs 18,744.68 crore to their market valuation.
Mukesh Ambani-led Reliance Industries (RIL) able to maintain its numero-uno position by adding Rs 4,124.65 crore to its m-cap, taking its total valuation to Rs 3,62,164.68 crore.
RIL was followed at the second spot by state-run oil firm ONGC that saw its valuation surge by Rs 8,362.98 crore, the highest by any company during the week. Power firm NTPC was at third spot losing Rs 3,999 crore.
The total m-cap of ONGC stood at Rs 2,60,225.62 crore and NTPC at Rs 1,90,346.44 crore.
Trading firm MMTC added Rs 4,305.75 crore to its m-cap taking its total valuation to Rs 1,76,542.25 crore, while the country"s largest iron ore producer NMDC lost Rs 1,447 crore from its valuation and stood at Rs 1,66,140.75 crore.
Public sector lender SBI jumped to sixth place from eight after adding Rs 1,114 crore, while IT bellwether Infosys Technologies slipped to seventh slot from sixth after losing Rs 8,075.44 crore from its valuation.
The SBI"s m-cap surged to Rs 1,45,197 crore and Infosys Technologies dipped to Rs 1,41,346 crore.
Private sector telecom services provider Bharti Airtel was able to retain its ninth spot even after losing Rs 1,385.89 crore from its m-cap, while at the tenth place power equipment maker BHEL saw its valuation surged by Rs 837 crore.
The total m-cap of Bharti Airtel dipped to Rs 1,23,458 crore and BHEL"s rose to Rs 1,18,620.49 crore.
During the week, the BSE benchmark index Sensex gained 75.49 points or 0.43 per cent to close at 17,540.29 points at the end the Friday"s trade on the BSE.