ONGC loses over Rs 24k cr from m-cap
Of the top-10 corporate firms in the country, five lost over Rs 24,000cr from their combined market capitalisation, with energy giant ONGC emerging as the major loser.
Mumbai: Of the top-10 corporate firms in
the country, five lost over Rs 24,000 crore from their
combined market capitalisation, with energy giant ONGC
emerging as the major loser.
State-run ONGC held the second position after Reliance
Industries (RIL), which maintained its top status. The oil and
gas major saw an erosion of Rs 8,288.13 crore from its market
capitalisation (m-cap), taking its total valuation to Rs
2,68,524.43 crore for the week ended July 16.
During the past week, ONGC`s shares fell nearly 3 per
cent. On Friday alone, the scrip closed up 1.32 per cent to Rs
The stock market benchmark BSE Sensex during the past
week recorded a gain of 0.6 per cent. The market was volatile
and during the period the Sensex regained the 18,000-level,
but was unable to extend gains till the end of Friday`s trade.
Corporate behemoth Reliance Industries (RIL) added Rs
2,322 crore to its m-cap. The total market valuation of RIL
stood at Rs 3,47,660.12 crore.
State-run power honcho NTPC jumped to the third spot from
the fourth and added Rs 82.45 crore to take its market
valuation to Rs 1,63,466.24 crore.
The country`s largest software exporter TCS, however,
stole the show and jumped to the fourth position from prior
week`s fifth place. On Thursday, the IT major posted a
better-than-expected first quarter result with a 24.25 per
cent jump in its net profit.
Buoyed by the strong results, TCS gained Rs 11,332.19
crore to see its valuation swell to Rs 1,62,917.33 crore.
IT bellwether Infosys Technologies was beaten by two
corporate firms and fell to the fifth place from earlier
week`s third position and saw its valuation dip by Rs 5,371.7
crore to Rs 1,59,446.64 crore. Earlier in the past week the
company had reported a decline of 2.42 per cent in its first
quarter result ended June 30.
Two state-run firms -- State Bank of India and BHEL --
together added Rs 6,839.52 crore to their m-cap.
SBI jumped to the sixth place with a total m-cap of Rs
1,54,983.73 crore, while power producer BHEL added Rs
1,19,379.24 crore to finish at the eighth spot.
Trading major MMTC stood at the seventh position and
emerged as the second biggest loser. The company lost Rs
6,320.5 crore from its m-cap to see its valuation decline to
Rs 1,36,924.5 crore.
FMGC major ITC climbed to the ninth position to see its
valuation decline to Rs 853.51 crore to take its m-cap to Rs
The country`s top telco Bharti Airtel suffered a place`s
loss and finished last to shed Rs 3,569.67 crore taking its
valuation to Rs 1,13,431.92 crore.