6 of top-10 cos add Rs20k cr in mid cap

6 of top-10 cos add Rs20k cr in mid cap

Mumbai: Amid a volatile market past week, six of the top-ten listed companies earned Rs19,694.39 crore to their combined market capitalisation (m-cap), with the country’s top telcom player Bharti Airtel adding the maximum to the kitty.

Bharti Airtel emerged as the top gainer, adding Rs8,810.25 crore, taking its market capitalisation to Rs1,28,887.83 crore for the week ended 3 September.

With the eighth position, Airtel replaced FMCG major ITC ,which fell to ninth spot with a wealth addition of Rs2,356.31 crore taking its m-cap to Rs1,25,805.65 crore.

Earlier this month, the government had allocated air waves to private operators, including Airtel, for launching 3G mobile and broadband wireless access services in the country.

During the last week, shares of the telecom major jumped 7.33% to settle at Rs339.40 at the end of Friday’s trade on the Bombay Stock Exchange.

Meanwhile, the BSE-30 share Sensex gained 223 points to stand at 18,221.43 as on 3 September, 2010.

Even after losing Rs7,850.99 crore from its m-cap, the country’s most valued firm Reliance Industries (RIL) maintained its top position in the elite club with market valuation of Rs3,02,835 crore.

RIL was followed by ONGC, SBI, TCS, NTPC, Infosys, MMTC, ITC and BHEL.

Oil and gas major ONGC emerged as the second biggest gainer after Airtel, posting a growth of Rs4,352.6 crore to its m-cap, which stood at Rs2,86,180.81 crore.

The country’s largest public-sector lender State Bank of India saw a decline of Rs1,848.73 crore from its m-cap, which stood at Rs1,76,114.48 crore.

Software exporter TCS too witnessed a wealth erosion of Rs3,611 crore to take its total market valuation to Rs1,63,876.36 crore.

With an m-cap of Rs1,61,775.93 crore, power producer NTPC added Rs206 crore to its kitty.

IT bellwether Infosys Technologies saw its valuation swell by Rs3,604 crore to Rs1,59,064.99 crore.

Trading firm MMTC added Rs365 crore to drive its market valuation to Rs1,35,765 crore.

ITC saw a wealth addition of Rs2,356.31 crore to take its m-cap to Rs1,25,805.65 crore.

State-run Bhel slid one place to finish last in the list. It lost Rs3,793.78 crore from its m-cap to Rs1,17,122.56 crore.