Seven of top-10 firms add over Rs10K cr in m-cap

Seven of top-10 firms add over Rs10K cr in m-cap

Mumbai: Led by IT czar Infosys Technologies, the market capitalisation (m-cap) of seven of the country’s top 10 firms rose by 10,906 crore last week.

The market worth of Infosys soared by 4,374.18 crore to 1,93,365.37 crore as on Friday’s trade on the Bombay Stock Exchange. Shares of the company surged 2.31% during the past week to settle at 3,368.50.

Market observers opined that smart buying was seen in Infosys Technologies despite dullness in the broader market, in hopes of smart third quarter earnings.

Private telecom operator Bharti Airtel was the second biggest gainer and added 1,879.77 crore to its m-cap which stood at 1,32,343.57 crore at close on Friday last week.

The market valuation of corporate giant Reliance Industries too edged up by 1,227.23 crore to 3,46,749.39 crore.

Software major Tata Consultancy Services added just 58.71 crore to its m-cap at 2,23,257.8 crore. State-run NTPC added 206.14 crore to take its valuation to 1,63,218.88 crore.

Private-sector lender ICICI Bank’s m-cap swelled by 1,697.38 crore to 1,28,525.13 crore, while FMCG honcho ITC gained 1,462.79 crore, taking its valuation to 1,30,765.82 crore.

On the losers side, oil & gas behemoth ONGC bore the maximum brunt and saw an erosion of 7,379 crore from its m-cap, which stood at 2,76,898.11 crore.

Two of the state-run firms Coal India (CIL) and SBI were the other sufferers. The m-cap of CIL diminished by 5,337.32 crore to 1,97,354.67 crore, while SBI’s valuation declined to 1,74,933.4 crore after it lost 441.31 crore from its m-cap.

Meanwhile, during the previous week, the BSE 30-share barometer Sensex witnessed a mild gain of 1.05 per cent and had closed at 20,073.66 as on Friday.