ITC pushes Bharti out of top 10 m-cap firms
In the highly volatile trade past week, six out of the top 10 firms added nearly Rs 17,000 crore to their market capitalisation, with FMCG major ITC getting into the coveted club after a year replacing Bharti Airtel.business Updated: May 16, 2010 11:49 IST
In the highly volatile trade past week, six out of the top 10 firms added nearly Rs 17,000 crore to their market capitalisation, with FMCG major ITC getting into the coveted club after a year replacing Bharti Airtel.
Meanwhile, the four state-run companies in the top 10 m-cap list--ONGC, SBI, BHEL and NMDC--lost Rs 2,388 crore from their market valuation for the week ended May 16, led by BHEL and SBI.
Consumer goods major ITC replaced the largest telco Bharti Airtel whose valuation fell by Rs a whopping 8,829.23 crore, pulling down its total market capitalisation (m-cap) to Rs 1,00,425 crore.
During the week, the shares of Bharti Airtel plunged 8 per cent, after the telecom regulator Trai recommended a steep jump in fee for spectrum beyond 6.2 Mhz, to settle at Rs 264.45 on the BSE on Friday.
ITC, at the end of the top 10 heap, made a come back after a year by adding Rs 3,512.74 crore into its m-cap, taking its total market valuation to Rs 1,02,385 crore.
The country's most valued firm Reliance Industries maintained its numero-uno position, as its valuation swelled by Rs 3,172 crore to Rs 3,41,279.46 crore after the company ot a favourable verdict from the Supreme Court in its tussle with the Anil Ambani promoted RNRL over gas price in the early part of the past week.
State-run ONGC, the second most valued firm, lost Rs 64 crore from its m-cap, while, power producer NTPC at the third place added Rs 3,545.55 crore in its valuation. At the end of the week, ONGC saw its m-cap decline to Rs 2,23,501.22 crore and NTPC valuation stood at Rs 1,69,815 crore.
IT bellwether Infosys Technologies, at the fourth spot, added Rs 2,134.61 crore to its m-cap at Rs 1,52,455 crore and trading firm MMTC saw its valuation swelling by Rs 233.5 crore to Rs 1,50,219.75 crore.
The country's largest software exporter TCS, at the sixth slot, added Rs 4,227.55 crore into its m-cap taking its market valuation to Rs 1,49,481.15 crore, while public sector lender SBI, at the seventh spot, lost Rs 234.91 crore from its valuation to Rs 1,41,111 crore, as its Q4 numbers announced on Friday were way off the street expectation.
State-run BHEL, at the eighth slot, saw its m-cap decline by Rs 1,196.87 crore to Rs 1,15,641.76 crore and NMDC at the ninth place lost Rs 892 crore to settle the week at Rs 1,15,432 crore.
ITC which replaced Bharti Airtel stood at the tenth place.