Mumbai: The country’s 10 most valued firms added nearly Rs29,000 crore to their market capitalization last week, with Bharti Airtel alone accounting for nearly half the valuation.
Private sector telecom services provider Bharti Airtel added Rs13,164 crore to its market capitalization during the week, taking its valuation to Rs1,41,931 crore.
Last week, it had a market valuation of Rs1,28,767 crore.
Shares of Bharti Airtel surged over 10% in a week to settle at Rs747.70 on the Bombay Stock Exchange.
Top 10 firms, comprising four private and six public sector entities, added Rs28,939 crore to their valuation last week, taking the kitty to Rs12,48,825 crore.
Last week, the club’s valuation was Rs12,19,886 crore.
Mukesh Ambani-led Reliance Industries was the second biggest gainer in terms of market capitalization, adding Rs10,552 crore to its valuation kitty.
During the week, country’s most valued firm RIL announced its fourth quarter results, a 9.3% decline in its net profit at Rs3,546 crore. RIL’s market cap stood at Rs2,80,852 crore at the end of Friday’s trade.
Amid the overall gain in the broader market, the premier club of top 10 saw three state-run entities -- ONGC, NTPC and BHEL -- losing a combined Rs3,374 crore from their valuation.
The market cap of PSU entity ONGC stood at Rs1,83,194 crore, an erosion of Rs1,305 crore.
While power utility NTPC lost Rs1,732 crore, taking its market capitalization to Rs1,57,447 crore, power equipment maker BHEL saw its valuation dropping by Rs338 crore to Rs80,240 crore.
The shuffle in the top 10 club saw trading firm MMTC moving up to the fifth place from the earlier sixth, while the country’s second largest software exporter Infosys Technologies moved up two notch from its ninth slot last week.
Three PSUs -- SBI, NMDC and BHEL -- saw their rankings dropping one place in the premier club to sixth, eighth and ninth positions, respectively, from the last week.
During the week, NMDC added Rs1,665 crore to its market cap and State Bank of India added Rs92 crore to its market valuation.
Diversified conglomerate ITC remained at 10th position by adding Rs906 crore in the Friday’s trading.
Apart from the top 10 most valued firms, two private sector lenders, ICICI Bank and HDFC Bank, together added Rs782 crore to their valuation last week.
While ICICI Bank saw its market cap dropping by Rs996.36 crore to Rs48,149 crore, HDFC Bank added Rs1,778 crore to Rs47,217 crore at the end of Friday’s trade.
RIL, the numero-uno in the list, is followed by ONGC (Rs1,83,194 crore), NTPC (Rs1,57,447 crore), Bharti Airtel (Rs1,41,931 crore), MMTC (Rs84,383 crore), SBI (Rs83,030 crore), Infosys (Rs82,979 crore), NMDC (Rs82,961 crore), BHEL (Rs80,240 crore), ITC (Rs71,808 crore).