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Business News/ Opinion / Online-views/  TCS is third most valuable firm by market cap
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TCS is third most valuable firm by market cap

TCS is third most valuable firm by market cap

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Mumbai: Tata Consultancy Services (TCS) has become the country’s third most valued company in terms of market capitalisation as the software giant toppled oil & gas major ONGC to grab the coveted place during the past week.

The market cap of the country’s largest software company advanced by 6,948.06 crore to 2,32,642.58 crore. During the last week, the company’s counter also attracted investors as the scrip gained 3% to settle at 1,188.65 on the Bombay Stock Exchange.

With a loss of 11,164.9 crore from its m-cap, ONGC slipped to the fourth place. The market cap of the state-run firm stood at 2,28,345.76 crore as on Friday’s trade.

Commenting on ONGC’s downfall, SMC Global Securities Strategist & Head of Research Jagannadham Thunuguntla said, “The recent hike in oil subsidy burden on upstream companies from 33 per cent to 38 per cent is definitely making ONGC investors jittery".

Reliance Industries continued to hold the numero-uno position after it witnessed an addition of 2,569.94 crore to its m-cap which stood at 3,09,047.66 crore.

Coal India, the second most valued firm, saw its valuation surging by 7,863.87 crore to 2,55,338.85 crore.

IT major Infosys Technologies was at fifth position and added 2,761.61 crore to take its market cap to 1,64,295.9 crore.

Infosys was followed by ITC, NTPC, SBI, Bharti airtel and ICICI Bank.

FMCG major ITC lost 1,470.24 crore from its market cap which was at 1,48,300.69 crore, while power producer NTPC gained 1,401.73 crore to 1,45,202.55 crore.

Top lender SBI’s valuation slipped by 4,435.41 crore to 1,42,425.08 crore, while airtel saw its m-cap diminishing by 1,727.87 crore to 1,41,989.27 crore.

ICICI Bank also saw a dip of 1,595.54 crore from its m-cap which stood at 1,19,227.27 crore.

Meanwhile, the BSE benchmark Sensex fell by 0.58 per cent, or 107.94 points, to end the week at 18,268.54.

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Published: 12 Jun 2011, 01:23 PM IST
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