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Top firms lost Rs2,600 cr past week; ONGC worst victim

Top firms lost Rs2,600 cr past week; ONGC worst victim
PTI
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First Published: Sun, May 17 2009. 12 10 PM IST
Updated: Sun, May 17 2009. 12 10 PM IST
Mumbai: The country’s 10 most valued firms lost over Rs2,600 crore in their market capitalisation past week, with state-run oil firm Oil and Natural Gas Corporation being the biggest loser in the coveted list.
During the last week, ONGC’s market-cap came down by Rs14,961 crore, taking its total valuation to Rs1,73,879 crore at the end of the week. The firm’s shares fell nearly 8% on the Bombay Stock Exchange till the end of Friday’s trade. The oil behemoth had a market valuation of Rs1,88,841 crore in the previous week.
The 10 most valued firms lost Rs2,646 crore in their valuation past week, taking the total market-cap of the elite club to Rs1,286,511 crore at the end of trade on Friday.
Last week, valuation of the club, comprising four private and six public sector entities, was at Rs1,289,157 crore.
Corporate behemoth Reliance Industries has maintained its position as the most valued company in th elite list and added Rs8,066 crore to its market-cap, taking its valuation to Rs3,06,616 crore. The valuation of the Mukesh Ambani-led firm was at Rs2,98,550 crore a week ago.
However, amid mixed broader market, six firms - ONGC, SBI NTPC, NMDC, MMTC and ITC - lost a combined Rs20,172 crore in the week.
At the end of Friday’s trade, power utility NTPC saw an erosion of Rs1,814 crore from its valuation to Rs1,54,685 crore and NMDC lost Rs84.02 crore.
Also, MMTC lost Rs1,663 crore, State Bank of India Rs819 crore and FMCG major ITC Rs830 crore.
Besides, telecom services provider Bharti Airtel gained Rs6,156 crore and IT bellwether Infosys Technologies added Rs374 crore in its market valuation during the week.
The club witnessed power equipment supplier Bhel moving a notch to eight position by adding Rs2,930 crore, replacing SBI, which lost Rs 819 crore in the last week.
Apart from the 10 most valued firms, two private sector lenders - ICICI Bank and HDFC Bank - added Rs5,995 crore and Rs1,763 crore respectively to their valuation past week.
ICICI Bank’s and HDFC Bank’s market-cap stood at Rs63,951 crore and Rs50,405 crore, respectively.
RIL, the numero-uno in the list, is followed by ONGC (Rs1,73,879 crore), NTPC (Rs1,54,685 crore), Bharti Airtel (Rs1,51,827 crore), Infosys (Rs91,325 crore), NMDC (Rs87,065 crore), MMTC (Rs83,962 crore), Bhel (Rs83,581 crore), SBI (Rs83,312 crore), ITC (Rs70,260 crore).
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First Published: Sun, May 17 2009. 12 10 PM IST
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