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Top 7 companies lose over 28,000 cr in their m-cap

Top 7 companies lose over 28,000 cr in their m-cap

Mumbai: Seven of the top 10 Indian companies have lost more than 28,000 crore in their market capitalization in just a week’s time, and Coal India was the hardest hit with a loss of over 7,000 crore.

The seven companies witnessed whopping drop of 28,960 crore in their combined valuations amid a weak market which saw the 30-scrip benchmark Sensex losing 1.36%.

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But three companies - Bharti Airtel, NTPC and SBI - defied the broader market trend and witnessed improvement in their market capitalization totalling to 7,324 crore.

Commenting on these three stocks, Bothra said Bharti Airtel and NTPC surged after their September quarter results beat street expectations. While, SBI which has been beaten down quite sharply in the recent past saw buying activity at lower levels. Besides, the stock is also on an uptrend ahead of its results, Bothra said.

There was no change in the rankings of the top 10 listed companies, market leader RIL retained the top slot, while state-owned ONGC was the second most valued company, followed by country’s largest software services exporter TCS.

State-owned Coal India was the fourth most valued company, followed by ITC, Infosys, Bharti, NTPC, SBI and HDFC Bank.

State-owned Coal India, which is facing drop in output, saw its market valuation falling from 2,13,524 crore as on 28 Oct, to 2,06,134 crore as on Friday.

RIL was the second worst hit in terms of market valuation as it lost 6,024 crore and its m-cap as on 4 November stood at 2,88,001 crore.

During last week, ONGC’s m-cap eroded by 5,946 crore to 2,37,543 crore, TCS’ market valuation slipped by 4,022 crore to 2,15,118 crore, ITC m-cap fell 3,731 crore to 1,63,505 crore, Infosys fell by 1,754 crore to 1,62,447 crore and HDFC Bank’s m-cap tanked by 93 crore to 1,12,594 crore.

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