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L&T re-enters top 10 mn cap club, replaces ITC

L&T re-enters top 10 mn cap club, replaces ITC
PTI
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First Published: Sun, Jul 25 2010. 04 27 PM IST
Updated: Sun, Jul 25 2010. 04 27 PM IST
Mumbai: The country’s 10 most valued corporates added more than Rs30,000 crore to their cumulative market capitalisation last week, which also saw the BSE Sensex closing above the 18,000-level for the first time in more than two-and-a-half-years.
A rally in the Larsen & Toubro (L&T) counter during the week helped the engineering major earn a space in the elite club, with a market capitalisation (m-cap) of Rs1,16,848.25 crore by pushing out the FMCG major ITC from the list. L&T secured the tenth place in the list of country’s most valued corporates.
Larsen & Toubro scrip gained over 3% to settle at Rs1,937.30 on Friday on the Bombay Stock Exchange (BSE), whose benchmark index Sensex could manage only 1% rise to end the week at 18,130.98 on Friday.
Corporate behemoth and market leader Reliance Industries lost Rs915.8 crore from its m-cap last week taking its market valuation to Rs3,46,744.32 crore. Oil explorer ONGC held the second position by adding a sum of Rs545.42 crore to its m-cap taking its total valuation to Rs2,69,069.85 crore and state-run power major NTPC at the third place added Rs2,927.14 crore to take its market valuation to Rs1,66,393.38 crore.
Two IT firms — TCS and Infosys Technologies — together added Rs1,397.62 crore to their combined m-cap. TCS stood at the fourth place with a total m-cap of Rs1,64,111.22 crore, while Infosys came down to the fifth position with Rs1,59,650.37 crore m-cap.
State-run lender SBI at the sixth spot saw its valuation swell by Rs3,399.78 crore to Rs1,58,383.51 crore. Trading major MMTC added Rs13,140.25 crore to its valuation at Rs1,50,064.75 crore and stood at the seventh spot, while power producer BHEL at the eight spot witnessed an addition of Rs1,064.71 crore to Rs1,20,443.95 crore.
The country’s top telco Bharti Airtel jumped to the ninth place from the earlier week’s tenth position and added Rs 5,696.28 crore to take its market valuation to Rs1,19,128.2 crore.
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First Published: Sun, Jul 25 2010. 04 27 PM IST