Mumbai: Seven of the country’s top-10 firms lost a total of over Rs69,000 crore from their market capitalisation, while state-run NTPC and IT bellwether Infosys Technologies saw their valuations rise.
The numero-uno in the list, Reliance Industries Ltd (RIL) saw its valuation dipping by Rs29,157.16 crore to Rs3,36,395.96 crore for the week ended 24 October. Shares of the company declined nearly 8% to close at Rs2,047.30 on at the end of Friday’s trade on the Bombay Stock Exchange.
RIL had a market cap of Rs3,65,553.12 crore for the week ended 17 October.
RIL is followed by state-run oil firm ONGC that lost Rs13,603.22 crore from its market cap, while power utility NTPC added Rs618.41 crore to its valuation.
The total market cap of ONGC dipped to Rs2,51,338.61 crore, while the market valuation of NTPC surged to Rs1,76,988.8 crore.
Trading firm MMTC lost over Rs7,000 crore and the country’s largest public sector lender SBI saw an value erosion of Rs6,882.1 crore.
MMTC’s market valuation was Rs1,68,662.75 crore and SBI’s at Rs1,49,441.23 crore at the end of the week.
State-run mining giant NMDC lost Rs6,085.81 crore from its market valuation taking its total market cap to Rs1,33,134.63 crore.
During the week, IT bellwether Infosys Technologies moved up to the seventh slot after adding Rs3,818.31 crore, while private telecom services provider Bharti Airtel fell to the eighth spot after losing Rs702.42 crore from its market capitalisation.
Infosys’ market valuation surged to Rs1,29,581.79 crore whereas Bharti Airtel’s to Rs1,25,713.37 crore.
India’s largest software exporter TCS inched up to the ninth position after adding Rs6,360.9 crore, while power equipment maker Bhel skid to last spot in the list, after losing Rs5,700.46 crore from its market cap.
TCS saw its market valuation swelled to Rs1,25,485.88 crore, while the total market cap of Bhel stood at Rs1,16,716.25 crore.
In the club of top-10 firms, RIL is followed by ONGC (Rs2,51,338.61 crore), NTPC (Rs1,76,988.8 crore), MMTC (Rs1,68,662.75 crore), SBI (Rs1,49,441.23 crore), NMDC (Rs1,33,134.63 crore), Infosys (Rs1,29,581.79 crore), Bharti Airtel (Rs1,25,713.37 crore), TCS (Rs1,25,485.88 crore) and Bhel (Rs1,16,716.25 crore) in that order.