Country’s top 10 cos lose Rs62,000 cr in M-cap

Country’s top 10 cos lose Rs62,000 cr in M-cap

Mumbai: The elite club of country’s top 10 firms have witnessed a combined loss of over Rs62,000 crore in the market valuation last week and also some shuffling in the ranking order.

Defying the trend, public sector mining giant NMDC was the only firm, which added Rs5,590 crore to its market value.

The company improved its ranking two notches and climbed to the sixth spot last week from a week ago stand.

Also diversified coo lost fort.

ITC joined the club, which includes Reliance Industries, ONGC, Bharti Airtel and NTPC among others, with a gain of over Rs463.87 crore in its market capitalisation that stood at Rs72,480.17 crore last week.

At the end of Friday’s trade, the total market cap of the 10 most valued firms comprising six from public sector and four private sector entities stood at Rs13,16,361 crore, down from Rs13,78,371 crore a week ago.

Market leader Reliance Industries, which maintains its numero uno position in the top 10 club, suffered the biggest loss of Rs13,221.85 crore in market valuation. The company’s market capitalisation stood at Rs2.85 lakh crore on Friday last week, against Rs2.98 lakh crore a week ago.

IT major Infosys recorded the second biggest loss of Rs10,082 crore in terms of market value and slipped one position to the eighth rank in the top-10 club, while country’s largest bank SBI fell to the seventh place last week from sixth slot.

SBI saw its market value go down by Rs8,279 crore in the past week.

However, the shuffling in the top-10 club, was confined to the bottom five firms as the top five retained their previous week’s rankings.

Leading cellular operator Bharti Airtel lost Rs4,328 crore in market value last week, compared with the previous week.

Further, state-run ONGC and BHEL fell in their market caps of over Rs7,500 crore each in the trading week ended 26 September.

According to the list, RIL is followed by ONGC (Rs2,21,394 crore), Bharti Airtel (Rs1,47,349 crore), NTPC (Rs143,553 crore), MMTC (Rs1,04,678 crore), NMDC (Rs92,021 crore), SBI (Rs91,054 crore), Infosys (Rs82,858 crore), BHEL (Rs75,907 crore) and ITC (Rs72,480 crore).