Top 10 firms lose Rs21,000 crore in a month, RIL leading the pack

Top 10 firms lose Rs21,000 crore in a month, RIL leading the pack
PTI
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First Published: Sun, Mar 01 2009. 10 55 AM IST
Updated: Sun, Mar 01 2009. 10 55 AM IST
Mumbai: The country’s top-10 firms lost over Rs21,000 crore from their market capitalisation in February, with Reliance Industries alone accounting for close to half of the value erosion from the elite club.
The valuation of Mukesh Ambani-led Reliance Industries dipped below Rs2,00,000 crore mark after losing Rs9,466 crore last month. During February, the scrip lost nearly 4.53% to settle at Rs1,265.05 on Friday’s trade.
RIL, saw its valuation dipping to Rs1,99,094 crore at the end of February from Rs2,08,559.98 crore on 30 January.
The coveted club of country’s most valued 10 firms, comprising of four private entities and six public companies lost a combined Rs21,549 crore during the month to end at Rs10,23,135 crore.
The top four companies, RIL, NTPC, ONGC and Bharti Airtel, managed to maintain the January rankings in terms of market-cap last month as well.
State-run NTPC, even after losing Rs4,370 crore from its market cap remained at second position, while ONGC and private sector telecom service provider Bharti Airtel added Rs7,048 crore and Rs532 crore, respectively in their market valuation to settle at third and fourth position.
Meanwhile, state-run trading major MMTC, diversified conglomerate ITC and BHEL jumped up from their last month position to notch fifth, sixth and eight position at the end of the month.
MMTC lost Rs2,115 crore in a month, while ITC and BHEL added a combined nearly Rs5,000 crore to their market valuation.
Besides, companies which lost their last month’s positions were IT bellwether Infosys Technologies (seventh position), country’s largest public sector lender SBI (ninth position) and largest iron ore producer NMDC (tenth position).
These three companies saw an erosion of over Rs18,138 crore from their market valuation.
Apart from the list of top 10 most valued firms, two private sector lenders ICICI Bank and HDFC Bank witnessed a combined erosion of over Rs11,506 crore from its valuation during the month.
While, ICICI Bank saw its valuation plummeting by Rs9,819 crore to Rs36,526 crore, HDFC Bank lost Rs1,688 crore to Rs37,637 crore at the end of trade on Friday.
Meanwhile, during the week the country’s top-10 firms added over Rs11 crore to their market valuation, with RIL gaining Rs1,809 crore in terms of market valuation.
RIL, the numero-uno in the list of the most valued firm, is followed by NTPC (Rs1,51,881 crore), ONGC (Rs1,47,828 crore), Bharti Airtel (Rs1,20,850 crore), MMTC (Rs70,298 crore), ITC (Rs69,029 crore), Infosys (Rs70,509 crore), BHEL (Rs68,252 crore), SBI (Rs65,209 crore) and NMDC (Rs60,085).
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First Published: Sun, Mar 01 2009. 10 55 AM IST
More Topics: RIL | Mukesh Ambani | NTPC | ONGC | Bharti Airtel |