M-cap of top-7 cos falls; ONGC becomes most valued firm
The combined market capitalisation (m-cap) of seven of the country's top-10 firms declined by Rs 49,487.59 crore last week, while state-owned ONGC grabbing the top slot as the most valued firm toppling Reliance Industries.
Mumbai: The combined market capitalisation (m-cap) of seven of the country's top-10 firms declined by Rs 49,487.59 crore last week, while state-owned ONGC grabbing the top slot as the most valued firm toppling Reliance Industries.
ONGC m-cap surged Rs 1,924.98 crore to Rs 2,37,842.34 crore on Friday on the Bombay Stock Exchange (BSE), replacing Mukesh Ambani led RIL as the most valued company in India.
RIL's market value dipped Rs 3,843.62 crore, commanding a market cap of Rs 2,35,571 crore.
The PSU energy major reclaimed the top position after a gap of nearly four-and-a-half years.
On August 17, Coal India Ltd (CIL) had dethroned RIL as the top-valued firm, ending the private sector energy giant's reign. However, its climb was short-lived as RIL reclaimed this position within six days on August 23.
During last week, the market valuation of CIL fell by Rs 21,444.04 crore to Rs 2,27,231.05 crore. During the period, the company's shares fell over 8 percent.
The country's biggest lender SBI, too, lost Rs 9,597.87 crore from its m-cap which stood at Rs 1,19,933.74 crore. Private lender HDFC Bank's market value also declined by Rs 5,581.97 crore to Rs 1,02,318 crore.
Power producer NTPC saw its market cap drop Rs 6,225.32 crore to Rs 1,37,039.55 crore.
FMCG major ITC lost Rs 1,597.6 crore and its market cap stood at Rs 1,52,537 crore, while software services exporter Infosys saw its value slip Rs 1,197.17 crore to Rs 1,26,580.85 crore.
In contrast, IT giant TCS and telecom player Bharti Airtel saw gains in their m-cap. TCS saw its market value surge Rs 3,787.18 crore to Rs 1,85,767.64 crore, while that of Bharti rose Rs 5,791.22 crore to Rs 1,51,426.11 crore.
Meanwhile, the BSE 30-scrip benchmark Sensex fell 292.84 points, or 1.81 percent, to end the week at 15,848.83.