Mumbai: After a promising start during the first week of the year, five of the country’s top 10 companies saw an erosion of nearly Rs25,000 crore from their market cap, while PSU oil firm ONGC added over Rs 8,000 crore to its kitty.
During the week ended 8 January, NTPC, NMDC, Infosys Technologies, TCS and Bharti Airtel together lost over Rs24,546.71 crore from their market capitalisation (m-cap).
Outsourcing firm TCS was the biggest loser during the week shedding Rs9,639.21 crore from its m-cap slipping by a notch to the eighth position. Its m-cap stood at Rs1,37,101.86 crore.
The companies which were able to buck the losing trend were RIL, ONGC, MMTC, SBI and Bhel. These together added Rs18,744.68 crore to their market valuation.
Mukesh Ambani-led Reliance Industries able to maintain its numero-uno position by adding Rs4,124.65 crore to its m-cap, taking its total valuation to Rs3,62,164.68 crore.
RIL was followed at the second spot by state-run oil firm ONGC that saw its valuation surge by Rs8,362.98 crore, the highest by any company during the week. Power firm NTPC was at third spot losing Rs3,999 crore.
The total m-cap of ONGC stood at Rs2,60,225.62 crore and NTPC at Rs1,90,346.44 crore.
Trading firm MMTC added Rs4,305.75 crore to its m-cap taking its total valuation to Rs1,76,542.25 crore, while the country’s largest iron ore producer NMDC lost Rs1,447 crore from its valuation and stood at Rs1,66,140.75 crore.