Eight out of top-10 cos lose over Rs 20k cr from m-cap
In a week that saw the benchmark index Sensex regaining the 17,000-level, eight out of the top-10 firms lost over Rs 20,000 crore from their market capitalisation, with IT major Infosys emerging as the biggest loser.business Updated: Jun 13, 2010 10:58 IST
In a week that saw the benchmark index Sensex regaining the 17,000-level, eight out of the top-10 firms lost over Rs 20,000 crore from their market capitalisation, with IT major Infosys emerging as the biggest loser.
Meanwhile, two companies -- Reliance Industries and BHEL -- added Rs 8,062.29 crore to their market capitalisation for the week ended June 11.
Out of the eight firms, which lost a whopping sum of Rs 20,311.5 crore from their market capitalisation (m-cap), IT bellwether Infosys Technologies emerged as the biggest loser by losing Rs 5,563.18 crore from its market valuation, taking its total to Rs 1,51,121.24 crore.
Infosys Technologies' shares fell by 3.55 per cent to settle at Rs 2,633.60 at the end of Friday's trade on the Bombay Stock Exchange (BSE).
During the past week, the BSE benchmark barometer Sensex soared 52.74 points, or 0.30 per cent, to settle at Rs 17,064.95.
Corporate behemoth Reliance Industries Ltd (RIL) maintained its top position by adding Rs 5,073.77 crore to its m-cap, taking its total market valuation to Rs 3,42,191.76 crore.
Buoyed by acquisition of Internet service provider Infotel, RIL's share gained 3.03 per cent in yesterday's trade on the BSE, while during the week, the scrip surged 3.65 per cent to close at Rs 1,046.25.
Two state-run firms -- ONGC and NTPC -- together lost Rs 4,087.24 crore from their market valuation.
The country's second most valued firm, ONGC, lost Rs 2,149.56 crore from its m-cap, taking its valuation to Rs 2,52,333.19 crore, and power producer NTPC, at third place, saw its valuation falling by Rs 1,937.68 crore to Rs 1,64,290.79 crore.
Infosys Technologies stood at fourth place and the country's largest software exporter TCS, at the fifth spot, saw its valuation declining by Rs 1,242.82 crore to end the week at Rs 1,48,531.91 crore.