Seven of top-10 cos lost Rs23k cr in a month

Seven of top-10 cos lost Rs23k cr in a month

Mumbai: Seven of the top-10 most valued companies lost a total of over Rs23,000 crore from their market capitalisation during the result season last month, while firms including Reliance Industries and NTPC saw their valuations rise.

Mukesh Ambani-led Reliance Industries’ (RIL) market valuation rose by Rs4,839.65 crore, taking its total market cap to Rs3,46,440.26 crore for the month ended 31 October.

RIL had a market valuation of Rs3,41,600.61 crore at the beginning of the month, on 1 October, 2009.

Second comes oil firm ONGC, which witnessed a value erosion of Rs2,277.9 crore during the month. Its market cap stood at Rs2,50,525.84 crore.

State-run NTPC inched up to the third slot by adding Rs2,762.23 crore pushing trading firm MMTC that lost Rs9,636.25 crore to the fourth position.

The total market valuation of NTPC surged to Rs1,76,205.48 crore, while MMTC’s dipped to Rs1,70,186.25 crore.

Moving further, private telecom services provider Bharti Airtel lost Rs6,378.69 crore from its market valuation, however state-run mining giant NMDC added Rs1,129.77 crore to its market cap.

Bharti Airtel’s total market cap stood at Rs1,58,916.74 crore, while NMDC’s market valuation surged to Rs1,42,055.2 crore.

The country’s largest public sector lender, SBI’s total market cap dipped by Rs901.53 crore to Rs1,39,400.6 crore last month.

IT bellwether Infosys Technologies saw an erosion of Rs1,008.56 crore and software company Tata Consultancy Services lost Rs2,466.07 crore from its market valuation.

The total market cap of Infosys Technologies stood at Rs1,32,331.34 crore and TCS at Rs1,21,219.18 crore.

Power equipment maker Bhel, witnessed an erosion of Rs1,214.01 crore from its market cap taking its total market valuation to Rs1,13,820.74 crore.

During the week ended 31 October, of the top-10 companies five lost Rs18,798.93 crore, while the rest added combined Rs56,441.29 crore, resulting into a net gain of Rs37,642.36 crore.

In the top-10 club, RIL is followed by ONGC (Rs2,50,525.84 crore), NTPC (Rs1,76,205.48 crore), MMTC (Rs1,70,186.25 crore), Bharti Airtel (Rs1,58,916.74 crore), NMDC (Rs1,42,055.2 crore), SBI (Rs1,39,400.6 crore), Infosys (Rs1,32,331.34 crore), TCS (Rs1,21,219.18 crore), and Bhel (Rs1,13,820.74 crore), in that order.