Six of top-10 firms add nearly Rs17k cr to m-cap

Six of top-10 firms add nearly Rs17k cr to m-cap

Mumbai: In the highly volatile trade past week, six out of the top 10 firms added nearly Rs17,000 crore to their market capitalization, with FMCG major ITC getting into the coveted club after a year replacing Bharti Airtel.

Meanwhile, the four state-run companies in the top 10 m-cap list--ONGC, SBI, BHEL and NMDC--lost Rs2,388 crore from their market valuation for the week ended 16 May, led by BHEL and SBI.

Consumer goods major ITC replaced the largest telco Bharti Airtel whose valuation fell by a whopping Rs8,829.23 crore, pulling down its total market capitalization (m-cap) to Rs1,00,425 crore.

During the week, the shares of Bharti Airtel plunged 8%, after the telecom regulator Trai recommended a steep jump in fee for spectrum beyond 6.2 Mhz, to settle at Rs264.45 on the BSE on Friday.

ITC, at the end of the top 10 heap, made a come back after a year by adding Rs3,512.74 crore into its m-cap, taking its total market valuation to Rs1,02,385 crore.

The country’s most valued firm Reliance Industries maintained its numero-uno position, as its valuation swelled by Rs3,172 crore to Rs3,41,279.46 crore after the company got a favourable verdict from the Supreme Court in its tussle with the Anil Ambani promoted RNRL over gas price in the early part of the past week.

State-run ONGC, the second most valued firm, lost Rs64 crore from its m-cap, while, power producer NTPC at the third place added Rs3,545.55 crore in its valuation. At the end of the week, ONGC saw its m-cap decline to Rs2,23,501.22 crore and NTPC valuation stood at Rs1,69,815 crore.

IT bellwether Infosys Technologies, at the fourth spot, added Rs2,134.61 crore to its m-cap at Rs1,52,455 crore and trading firm MMTC saw its valuation swelling by Rs233.5 crore to Rs1,50,219.75 crore.

The country’s largest software exporter TCS, at the sixth slot, added Rs4,227.55 crore into its m-cap taking its market valuation to Rs1,49,481.15 crore, while public sector lender SBI, at the seventh spot, lost Rs234.91 crore from its valuation to Rs1,41,111 crore, as its Q4 numbers announced on Friday were way off the street expectation.

State-run BHEL, at the eighth slot, saw its m-cap decline by Rs1,196.87 crore to Rs1,15,641.76 crore and NMDC at the ninth place lost Rs892 crore to settle the week at Rs1,15,432 crore.

ITC which replaced Bharti Airtel stood at the tenth place.