Mumbai: The country’s top-10 firms added Rs32,000 crore to their market capitalisation last week, with public sector oil firm Oil and Natural Gas Corp (ONGC) contributing the major chunk.
ONGC added Rs20,052 crore to its market-cap, taking the total valuation to Rs2,42,687 crore during the week ending 3 July. Shares of the company surged 9% to settle at Rs1,134.65 on the BSE at the end of Friday’s trade.
The coveted club, which comprises of four private sector and six public companies, added Rs32,354 crore to their market valuation to Rs16,04,896 crore.
The total market-cap of the elite club stood at Rs15,72,541 crore in the previous week.
The club saw five companies ONGC, National Thermal Power Corporation (NTPC), Bharti Airtel, Minerals and Metals Trading Corp (MMTC) and State bank of India added Rs39,414 crore to their market-cap, respectively.
Meanwhile, the other five firm including Reliance Industries, National Mining Development Corp (NMDC), Bharat Heavy Electricals (Bhel), Infosys Technologies and Larsen & Toubro lost Rs7,060 crore in their market cap past week.
The country’s most-valued firm, Reliance Industries Ltd, lost Rs441 crore from its market valuation, which stood at Rs3,18,832 crore at the end of Friday’s trade. RIL had a market valuation of Rs3,19,273 crore in the previous week.
Trading firm MMTC jumped to fourth place from fifth adding Rs6,228 crore, while private telecom services provider Bharti Airtel slipped to fifth position from earlier fourth, even after adding Rs1,466 crore to its market cap.
At the end of the week, total market valuation of MMTC stood at Rs1,57,565 crore and Airtel at Rs1,55,144 crore.
Mining firm NMDC lost Rs4,024 crore from its market cap, while SBI added Rs3,917 crore.
The total market valuation of NMDC stood at Rs1,42,947 crore and SBI at Rs1,14,955 crore for the week ended 3 July.
Power equipment supplier Bhel lost Rs952 crore and IT bellwether Infosys lost Rs1,438 crore from their market cap. The total market valuation of Bhel stood at Rs1,06,816 crore and Infosys at Rs1,03,202 crore.
Engineering and construction major Larsen & Toubro saw its market value erode by Rs205 crore to stand at Rs94,251 crore.