Mumbai: The country’s top 10 firms added Rs29,000 crore to their market capitalization last week, with public sector trading firm MMTC contributing the major chunk.
State-owned MMTC jumped to the fourth place in the club of top 10 firms and added Rs33,201 crore to its market capitalization, taking the total valuation to Rs1,71,040 crore during the week ending 5 June.
Shares of the company surged 24% to settle at Rs34,208.05 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 Rs29,777 crore to their total market valuation to Rs16,88,213 crore.
Last week, the total market cap of the companies stood at Rs16,58,436 crore.
The country’s most-valued firm, Reliance Industries, lost Rs10,332 crore from its market valuation last week, with its total market cap standing at Rs3,48,101 crore at the end of Friday’s trade.
The company had a market valuation of Rs3,58,433 crore in the previous week.
Two state-run firms Oil and Natural Gas Corporation (ONGC) and public sector trading firm NTPC together added Rs4,520 crore.
At the end of Friday’s trade, the market cap of ONGC stood at Rs2,52,526 crore and NTPC at Rs1,81,153 crore.
The club saw a change in the ranking of mining firm NMDC as it slipped to fifth position from third after losing Rs12,528 crore and private telecom services provider Bharti Airtel fell to sixth position even after adding Rs978 crore.
At the end of the week, market cap of NMDC stood at Rs1,65,526 crore and market valuation of Bharti Airtel stood at Rs1,56,573 crore.
IT bellwether Infosys Technologies added Rs5,072 crore to its market valuation, while SBI lost Rs3,251 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 Rs6,743 crore to its market valuation.
Besides the top 10 firms, two private sector lender ICICI Bank added Rs1,165 crore to its market cap, while HDFC Bank lost Rs961 crore from its market valuation.
During the week, the market cap of ICICI Bank stood at Rs83,624 crore, while HDFC Bank’s valuation was at Rs60,404 crore.
In the club of top 10 firms, RIL is followed by ONGC (Rs2,52,526 crore), NTPC (Rs1,81,153 crore), MMTC (Rs1,71,040 crore), NMDC (Rs1,65,526 crore), Bharti Airtel (Rs1,56,573 crore), SBI (Rs1,15,415 crore), Bhel (Rs1,11,973 crore), Infosys (Rs96,838 crore) and L&T ( Rs89,069 crore).