Top firms lose over Rs1.73 trillion in market valuation

Top firms lose over Rs1.73 trillion in market valuation
PTI
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First Published: Sun, Jul 12 2009. 11 31 AM IST
Updated: Sun, Jul 12 2009. 11 31 AM IST
Mumbai: The country’s top 10 firms saw their total market capitalisation being wiped out by over Rs1,73,000 crore last week, and Mukesh Ambani-led Reliance Industries Ltd lost the most.
RIL lost Rs38,935 crore in market valuation, with its market cap dipping below Rsthree-trillion mark to Rs2,79,897 crore during the week ended 10 July, 2009, as against Rs3,18,832 crore in the previous week.
Shares of the company on Friday ended 12.21% lower at the BSE to close at Rs1,778.40.
The total market cap of the top 10 firms, comprising four private and six state-run companies, fell Rs1,73,462 crore at Rs14,31,433 crore last week as against Rs16,04,896 crore the previous week.
State-run firms Oil and Natural Gas Corporation Limited (ONGC) and National Thermal Power Corporation (NTPC) together lost Rs40,872 crore in market cap.
The total market valuation of ONGC stood at Rs2,10,967 crore and NTPC at Rs1,59,344 crore on Friday.
Telecom services provider Bharti Airtel lost Rs6,635 crore in market cap but moved up one place to fourth position on the top ten list. Minerals and Metals Trading Corporation of India slipped to fifth position from fourth after losing Rs21,181 crore.
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First Published: Sun, Jul 12 2009. 11 31 AM IST
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