Seven of top-10 firms shed Rs 28k cr in m-cap in a week

Market capitalisation (m-cap) of seven of the country's top-10 firms eroded by Rs 28,193 crore last week, with oil and gas major ONGC recording the biggest loss in valuation.

With an erosion of Rs 8,619.65 crore from its market valuation, state-run ONGC emerged as the biggest loser in the club based on m-cap. ONGC's m-cap stood at Rs 2,78,748.23 crore as on Friday.

ONGC shares declined by nearly three per cent during the week to close at Rs 1,303.25 on Friday at the Bombay Stock Exchange.

Corporate giant Reliance Industries (RIL) yet again ruled the chart with an m-cap of Rs 3,58,587 crore. RIL added Rs 4,719.66 to its kitty.

The company had yesterday posted a 27.8 per cent growth in its net profit at Rs 4,923 crore for the July-September quarter this fiscal.

India's largest software exporter Tata Consultancy Services also witnessed its valuation swell by Rs 2,289.93 crore to Rs 2,05,858.3 crore.

Meanwhile, country's top public sector lender State Bank of India saw its valuation decline by Rs 3,168.6 crore to Rs 2,00,098.05 crore.

The m-cap of IT bellwether Infosys Technologies also fell by Rs 4,801.84 crore to Rs 1,70,466.92 crore.

Power major NTPC also lost Rs 7,462.14 crore from its market valuation which stood at Rs 1,60,745.24 crore.

FMCG major ITC emerged as another loser in the list by shedding Rs 76.84 crore from its valuation to Rs 1,31,503 crore.

Trading firm MMTC lost Rs 1,140 crore from its m-cap which stood at Rs 1,29,005 crore as on Friday.

With an m-cap of Rs 1,33,371.36 crore, private sector lender ICICI Bank saw its valuation soar by Rs 3,421.4 crore.

Top private telco Bharti Airtel shed Rs 2,924.09 crore from its valuation which stood at Rs 1,23,685.23 crore.

Meanwhile, during the week the BSE 30-share index Sensex witnessed a loss of 0.66 per cent to settle at 20,032.34 at the end of Friday's trade.


Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel