Seven of top-10 cos lose Rs32k cr in a week; NMDC major loser

Seven of top-10 cos lose Rs32k cr in a week; NMDC major loser

Mumbai: In a volatile trade last week, when the Sensex soared to a seven-week high level of over 17,000 points, seven out of top-10 firms lost over Rs32,000 crore from their market capitalization, with NMDC losing the most.

However, three firms -- Reliance Industries, Infosys Technologies and TCS -- together added Rs10,833 crore to their market valuation for the week ended 13 March.

State-owned mining giant NMDC, which came out with 33.22 crore shares under its follow-on public offer got subscribed 1.25 times on the final day, saw its valuation decline by Rs21,469 crore, taking its total valuation to Rs1,42,868 crore.

Shares of the mining giant plunged 12.49% to close at Rs362.70 on the Bombay Stock Exchange at the end of Friday’s trade.

During the week, the 30-share benchmark index Sensex had touched the seven-week high level of 17,167.96 points. The market traded in a narrow range but managed to move 172.13 points up this week to close at 17,166.62 points, down 0.01% at the end of Friday’s trade on the BSE.

The Country’s most valued firm Reliance Industries, maintained its numero-uno position by adding Rs2,158.34 crore in its valuation, taking its total market capitalization (m-cap) to Rs3,32,433.2 crore.

Two state-run firms -- ONGC and NTPC -- together lost Rs4,782 crore from their market valuation.