Top 10 companies add Rs28000 crore last week; ONGC biggest loser

Top 10 companies add Rs28000 crore last week; ONGC biggest loser
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First Published: Sun, Apr 19 2009. 10 44 AM IST
Updated: Sun, Apr 19 2009. 10 44 AM IST
Mumbai: The country’s 10 most valued firms added over Rs28,500 crore to their market capitalisation last week, even as the top two companies — Reliance Industries and ONGC — together witnessed an erosion of Rs7,228 crore.
The top-10 firms, comprising four private and six public sector entities, added Rs28,512 crore to their valuation last week, taking the total market cap of the elite club to Rs12,19,886 crore.
Last week, valuation of club was at Rs11,91,375 crore.
At the end of trading on Friday, Mukesh Ambani-led Reliance Industries saw its valuation erode by Rs2,447 crore, while the most-valued PSU entity ONGC lost Rs4,780 crore.
In the premier club, as many as four entities lost a combined Rs10,086 crore from their valuation, while the remaining added Rs 38,598 crore to their kitty.
The country’s second largest software exporter, Infosys Technologies, dropped to the ninth slot in the elite club of top-10 after witnessing a value decline of Rs1,910 crore. During the week, shares of Infosys dipped 2.33% on the Bombay Stock Exchange, taking its market capitalisation to Rs79,800 crore at the end of Friday’s trade.
Infosys has reported 29.1% growth in the fourth quarter, with its net profit at Rs1,613 crore. However, it gave a bleak revenue guidance on dollar earnings for the 2010 fiscal, which analysts say has dampened investor sentiment.
The market cap of ONGC stood at Rs1,84,499 crore, while NTPC saw an erosion of Rs948 crore during the week to Rs1,59,179 crore.
Among the six entities which gained in terms of valuation last week, NMDC emerged as the biggest gainer adding Rs15,046 crore and moved up to the seventh place from the earlier 10th position. The gainer list was followed by State Bank of India, which added Rs10,536 crore to its market cap.
NMDC’s valuation at the end of Friday’s trade stood at Rs81,296 crore, and SBI was valued at Rs82,938 crore.
Besides, private telecom services provider Bharti Airtel added Rs1,917 crore to its valuation and trading firm MMTC gained Rs3,645 crore to its market cap during the week.
The shuffling in the top 10 club also saw SBI moving up to the fifth place from earlier eighth, while BHEL and ITC dropping a notch to the eighth and 10th place, respectively.
Apart from the top 10 most valued firms, two private sector lenders, ICICI Bank and HDFC Bank, together added Rs5,813 crore to their valuation last week.
While, ICICI Bank saw its market cap surging by Rs4,871 crore to Rs49,145 crore, HDFC Bank added Rs942 crore to Rs45,439 crore at the end of Friday’s trade.
RIL, the numero-uno in the list, is followed by ONGC (Rs2,70,300 crore), NTPC (Rs1,84,499 crore), Bharti Airtel (Rs1,59,179 crore), SBI (Rs82,938 crore), MMTC (Rs81,629 crore), NMDC (Rs81,296 crore), BHEL (Rs80,577 crore), Infosys (Rs79,799 crore), ITC (Rs70,902 crore).
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First Published: Sun, Apr 19 2009. 10 44 AM IST