Seven of top-10 cos shed nearly Rs50K cr in m-cap last week

Seven of top-10 cos shed nearly Rs50K cr in m-cap last week

Mumbai: The combined market capitalization (m-cap) of seven of the country’s top-10 firms reduced by Rs49,551.83 crore during the past week, with corporate giant Reliance Industries bearing the maximum loss.

The market worth of Mukesh Ambani-led Reliance Industries (RIL) declined by Rs23,550.18 crore to Rs2,99,320.42 crore as on Friday’s trade on the Bombay Stock Exchange (BSE).

During this period, shares of RIL plunged 7.29% to close at Rs914.50 at the end of Friday’s trade.

Two of the IT bellwethers -- TCS and Infosys Technologies -- together shed Rs10,201.64 crore from their cumulative market valuations.

In the previous trading session, the m-cap of TCS was at Rs2,31,448.69 crore, while that of Infosys stood at Rs1,82,196.98 crore.

State-run Coal India Ltd (CIL) also saw its valuation dipping by Rs6,190 crore to Rs1,92,112 crore. FMGC honcho ITC’s m-cap also went into a tailspin, plunging by Rs396.88 crore to Rs1,29,885.53 crore.

Telecom player Bharti Airtel shed Rs3,607.64 crore from its m-cap which stood at Rs1,24,216.88 crore.

Similarly, private-sector lender ICICI Bank lost Rs5,605.46 crore from its m-cap which stood Rs1,16,824.47 crore.

Meanwhile, riding high on the smart quarterly numbers, oil & gas explorer ONGC’s m-cap increased by Rs6,534.25 crore to Rs2,42,890 crore. The company had late last week reported an over two-fold jump in its net profit at Rs7,083 crore for the quarter ended December 2010.

Country’s top lender SBI also added Rs1,308 crore to its m-cap which stood at Rs1,66,275.31 crore, while power major NTPC saw its valuation swelling by Rs1,814 crore to Rs1,58,147.92 crore.

During the week, the BSE 30-share index Sensex slipped by 3.21% to settle at 18,395.97 in the last trading session.