Top nine cos add over Rs 88K crore in M-cap; RIL leads
Mumbai: Country's nine most valued firms added Rs 88,556 crore to their combined market capitalization (m-cap) last week, with energy major RIL emerging as the biggest gainer on a surge in the stock market.
The market value of Reliance Industries Ltd (RIL) advanced by Rs 21,397 crore to Rs 2,83,810 crore as on Friday's trade on the BSE. Shares of the Sensex heavyweight jumped 8.15 percent during the week.
Similarly, state-owned ONGC saw its market value surge by Rs 1,883 crore to Rs 2,28,132 crore.
Software majors, TCS and Infosys, added Rs 30,436 crore to their combined market cap.
The m-cap of TCS stood at Rs 2,22,046 crore, while that of Infosys, at Rs 1,57,598 crore.
Infosys had on October 12 reported a 9.72 per cent growth in consolidated net profit to Rs 1,906 crore for the second quarter ended September 30.
The company had posted a net profit of Rs 1,737 crore for the September quarter of the previous fiscal (2010-11).
Market experts said that the results by the IT bellwether were better than street expectations.
Telecom giant Bharti Airtel saw an addition of Rs 10,994 crore to its market value, which was Rs 1,45,730 crore; and power utility NTPC's worth accelerated Rs 5,277 crore to Rs 1,42,646 crore.
FMCG honcho ITC saw its market cap swell by Rs 4,586 crore to Rs 1,59,424 crore.
State-owned lender SBI's market cap jumped Rs 8,296 crore to Rs 1,19,538 crore, while the m-cap of private sector lender HDFC Bank rose by Rs 5,687 crore to Rs 1,10,737 crore.
In contrast, state-owned Coal India saw a dip of Rs 9,443 crore from its market value which was at Rs 2,03,576 crore.
RIL continued to rule the chart and ONGC held the title of second most valued company. TCS toppled CIL to emerge as the third most valued company. CIL slipped to the fourth place followed by ITC, Infosys, Bharti, NTPC, SBI and HDFC Bank.
Meanwhile, the BSE 30-share benchmark Sensex gained 5.23 percent to end the week at 17,082.69.