Top seven cos add Rs 80,056 cr in m-cap; ONGC, ITC shine
The combined market value of seven of the top-10 companies rose by Rs 80,056 crore last week, with major contribution coming in from ONGC and ITC.
Mumbai: The combined market value of seven of the top-10 companies rose by Rs 80,056 crore last week, with major contribution coming in from ONGC and ITC.
Amid a strong stock market where the benchmark Sensex gained 4.24 percent, the top seven companies that saw rise in their value include RIL, HDFC Bank and SBI.
At the same time TCS, CIL and Infosys witnessed slump in their market capitalisation (m-cap).
The m-cap of ONGC soared by Rs 22,287 crore to Rs 2,86,223 crore in the week gone by. Shares of the company had also surged 8.44 percent to Rs 334.55 during the period under review.
ITC's market cap shot-up by Rs 17,542 crore to Rs 2,49,144 crore, while SBI added Rs 14,223 crore taking its value to Rs 1,53,937 crore.
The m-cap of ICICI Bank jumped Rs 8,970 crore to Rs 1,29,533?crore, while mortgage lender HDFC saw a gain of Rs 7,940 crore to Rs 1,26,336 crore in its value.
HDFC Bank's m-cap spurted by Rs 6,991 crore to Rs 1,60,114 crore while RIL added Rs 2,103 crore to Rs 2,52,968 crore.
In contrast, TCS's value dipped by Rs 11,860 crore to Rs 2,83,934 crore, CIL lost Rs 442 crore at Rs 1,89,017 crore and Infosys saw a marginal loss of Rs 3 crore to Rs 1,31,810 crore.
In the ranking of top-10 companies, ONGC on Thursday surpassed TCS to become the number one company by market cap. By the end of trade on Friday, ONGC retained the most valued company tag, followed by TCS, RIL, ITC, CIL, HDFC Bank, SBI, Infosys, ICICI Bank and HDFC.