Mumbai: Terror attacks that shook the city may spell doom for the tourism industry, but the country’s ten most valued firms have weathered the tremor, adding over Rs14,400 crore to their market valuation in a week.
Meanwhile, past week witnessed a shuffling in the elite club with state-run MMTC and NMDC losing their position to private sector new entrants in the coveted club-- TCS and HUL. MMTC and NMDC together lost nearly Rs14,000 crore.
Besides, SBI dropped to the sixth place losing out its position to IT major Infosys, while state-run BHEL managed to regain the seventh position.
The combined market capitalization of the country’s top 10 firms, comprising six private sector and four public sector entities, saw an addition of Rs14,424 crore last week, rising to Rs96,46,77.48 crore from the previous week’s Rs95,02,53.4 crore.
Tata Consultancy Services, which made it to the ninth place, at the end of Friday’s trade saw its market capitalisation at Rs54,611 crore, while FMCG major Hindustan Unilever’s valuation stood at Rs52,186 crore.
MMTC which lost Rs7,282 crore last week saw its market value dropping to Rs50,029 crore, while mining giant NMDC witnessed a value erosion of Rs6,621 crore to Rs49,896 crore.
Leading cellular operator Bharti Airtel maintained its fourth position after peaking to Rs9,861 crore in the last week, taking its valuation to Rs1,27,379 crore.
However, country’s largest lender State Bank of India lost a massive Rs6,114 crore in its valuation, thereby dropping below the Rs70,000 crore mark.