Five of top 10 cos add over Rs28k cr in m-cap; MMTC leads

Five of top 10 cos add over Rs28k cr in m-cap; MMTC leads

Mumbai: Five of top 10 companies added Rs28,667.55 crore to their combined market value, with public sector trading major MMTC gaining the most last week, when the benchmark Sensex fell below physchological 18,000-level after scaling it for the first time in 30 months the previous week.

Trading major MMTC stole the show and jumped to the third place from earlier week’s seventh position by adding Rs24,100.25 crore to take its market capitalisation taking its total value to Rs1,74,165 crore for the week ended 30 July. During the week, it reported a nearly 34% rise in profit to Rs55.23 crore for the quarter ended 30 June.

Another major reason for this surge was the fact that MMTC received shareholders approval for splitting its share with a face value of Rs10 into 10 scrips of Re1 each and issuing one-to-one bonus shares.

Reliance Industries, the country’s most valuable firm, once again ruled the chart, even though it lost Rs16,479.93 crore from its m-cap taking its market valuation to Rs3,30,264.39 crore following an announcement that the company will not increase production from its KG-D6 wells before the ongoing safety checks are complete.

Though the largest company reported its best-ever quarterly profit and revenue growth on 26 July (after the market hours), the investors dumped RIL shares on Tuesday and the share plunged over 3% and more than 1% the next day. Since the Q1 results on Monday evening, the RIL nearly fell 4.5%.

Energy giant ONGC, at the second place, saw an erosion of Rs3,304.56 crore from its m-cap to Rs2,65,765.29 crore, following a poor result on Friday, which was because of a more than expected subsidy payout.

IT majors TCS and Infosys together added 10.6 crore to their combined market capitalisation. TCS remained at the fourth place with an m-cap of 1,64,620.09 crore, while Infosys slipped to the sixth spot from the previous week’s fifth position with an m-cap of ,60,052 crore during the wek under review.

State-run power major NTPC also saw a value erosion of Rs2,638.54 crore from its m-cap and fell to the fifth slot. NTPC finished the week with a total m-cap of Rs1,63,754.84 crore.

The country’s largest lender SBI added Rs577.74 crore to Rs1,58,961.25, but settled the week a notch down at seven.

Power equipment company BHEL, at the eighth place, lost Rs1,054.92 crore taking its total market valuation to Rs1,19,389 crore.

FMCG major ITC pushed engineering honcho Larsen & Toubro (L&T) out of the top-10 club to secure the ninth position in list. ITC gained Rs3,078.96 crore to see its valuation swelling to Rs1,18,090.7 crore. Top telco Bharti Airtel finished last and lost Rs2,582.31 crore taking its m-cap to Rs1,16,545.89 crore.