ONGC loses over Rs 24k cr from m-cap
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Last Updated: Sunday, July 18, 2010, 10:43
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 1,255.45.

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 1,14,065 crore.

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.


First Published: Sunday, July 18, 2010, 10:43

Tag: ONGCm-cap
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