Mumbai: Country’s 10 most valued firms added a whopping Rs1,00,000 crore to their market capitalisation in a week, which witnessed an uptrend in the stock market, as state-run MMTC staged a comeback to the elite club.
MMTC, after nearly a month, regained its lost turf and grabbed the fifth spot in the top 10 valued club’s list after adding Rs47,639 crore to its market capitalisation.
PSU mining giant MMTC saw its valuation surging to Rs95,838 crore, from Rs48,198 crore in the week-ago period.
Shares of MMTC skyrocketed 98% in the week to settle at Rs19,167.50 on Friday last. Since 28 November, when the firm had first slipped out of the elite club, it has gained about 92% in its share price.
The total market capitalisation of the top 10 firms - comprising six public sector and four private sector entities - rose for second straight week gaining Rs1,03,780 crore.
At the end of Friday’s trade last week, the combined valuation of the elite club stood at Rs11,02,154 crore, against Rs9,98,375 crore a week ago.
Country’s most valued firm Reliance Industries added Rs6,777 crore to its valuation in a week. RIL, which regained its Rs2 trillion mark in market capitalisation last week, was the numero uno in the list at the end of the Friday’s trade.
Mukesh Ambani-led RIL saw its valuation rising to Rs2,12,345 crore at the end of Friday’s trade, from Rs2,05,568.45 crore a week ago.
However, cellular giant Bharti Airtel dropped to the fourth place, after losing Rs142.37 crore in a week. The Sunil Mittal-led company saw its market capitalisation dropping to Rs1,36,965 crore at the end of Friday’s trade.
Country’s largest lender State Bank of India dropped to sixth position even after witnessing an addition of Rs4,635 crore in its valuations. The market capitalisation of SBI stood at Rs81,750 crore at the end of Friday’s trade.
State-run power utility NTPC rose to the third spot after gaining Rs14,100 crore. Its market capitalisation at the end of trade last week was at Rs1,50,150 crore.
Similarly, Bhel slipped one place to seventh despite adding Rs3,828 crore to its valuation. Also, ITC dropped three places to the 10th spot despite adding Rs 2,225 crore.
On the other hand, the biggest private sector lender ICICI Bank witnessed its valuation surging to Rs52,540 crore at the end of Friday’s trade, a gain of Rs6,735 crore over the week ago period.
Also, HDFC Bank saw its valuation rising to Rs44,699.22 crore, after adding Rs5,579.96 crore during the week.