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Top firms add Rs2.52 lakh cr; ICICI rejoins elite club

Top firms add Rs2.52 lakh cr; ICICI rejoins elite club
PTI
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First Published: Sun, May 24 2009. 12 27 PM IST
Updated: Sun, May 24 2009. 12 27 PM IST
Mumbai: The country’s top 10 firms added Rs2,52,000 crore to their market capitalisation last week, while the country’s largest private sector lender ICICI Bank entered the elite club after a hiatus of more than seven months.
Private sector lender ICICI Bank grabbed the tenth place in the league after adding Rs7,979 crore during the last week taking its total market valuation to Rs78,240 crore, with the bank’s scrip surging 22.34% last week on BSE.
ICICI Bank rejoins the coveted club after a period of over seven months as in September, 2008 the lender had dropped out of the top ten list.
The top 10 elite club, which includes six public sector companies and four private sector players, added Rs2,52,016 crore to their market valuation during the last week taking its total market cap to Rs15,38,528 crore.
The club had a market cap of Rs12,86,511 crore in the previous week.
The country’s most valued firm, Reliance Industries, added Rs36,961 crore in its market valuation during the last week taking its total market cap to Rs3,43,576 crore at the end of Friday’s trade.
The company had a market valuation of Rs3,06,616 crore in the previous week.
Two state-run firms, Oil and Natural Gas Corporation (ONGC) and NTPC, together added Rs73,402 crore, respectively.
At the end of Friday’s trade, the market cap of ONGC stood at Rs2,23,576 crore and NTPC at Rs1,78,391 crore.
The club saw a rejig with trading firm MMTC notching fifth position from the earlier seventh, while IT bellwether Infosys Technologies slipped to ninth position from fifth.
During the last week MMTC added Rs54,860 crore to its market cap taking its total valuation to Rs1,38,822 crore, while Infosys Technologies lost Rs4,290 crore from its market cap to Rs87,034 crore.
Trading firm NMDC added Rs32,015 crore to its market cap and power equipment maker Bhel added Rs13,440 crore to its market valuation during the last week.
State Bank of India jumped to seventh place by adding Rs26,630 crore during last week,taking total market cap to Rs1,09,942 crore.
Last week, the country’s top 10 firms witnessed an over Rs2.27 lakh crore addition to their market valuation in a single trade on Monday, with Reliance Industries contributing the most to the club’s kitty. That day BSE benchmark Sensex had recorded its historic single day gain of over 2,000 points.
The 30-share BSE Sensex zoomed 2,111 points to 14,284.21 and hit upper circuit and trade was halted for entire day.
RIL, is followed by ONGC (Rs2,23,576 crore), NTPC (Rs1,78,391 crore), Bharti Airtel (Rs1,62,847 crore), MMTC (Rs1,38,822 crore), NMDC (Rs1,19,080 crore), SBI (Rs1,09,942 crore), Bhel (Rs97,020 crore), Infosys (Rs87,034 crore) and ICICI Bank ( Rs78,240 crore).
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First Published: Sun, May 24 2009. 12 27 PM IST
More Topics: Markets | Gains | Stocks | Sensex | BSE |