The country’s 10 most valued firms added over Rs 28,500 crore to their market capitalisation last week,even as the top two companies — Reliance Industries and ONGC — together witnessed an erosion of Rs 7,228 crore.
The top-10 firms,comprising four private and six public sector entities,added Rs 28,512 crore to their valuation last week,taking the total market cap of the elite club to Rs 12,19,886 crore.
Last week,valuation of club was at Rs 11,91,375 crore.
At the end of trading on Friday,Mukesh Ambani-led Reliance Industries saw its valuation erode by Rs 2,447 crore,while the most-valued PSU entity ONGC lost Rs 4,780 crore.
In the premier club,as many as four entities lost a combined Rs 10,086 crore from their valuation,while the remaining added Rs 38,598 crore to their kitty.
The country’s second largest software exporter,Infosys Technologies,dropped to the ninth slot in the elite club of top-10 after witnessing a value decline of Rs 1,910 crore.
During the week,shares of Infosys dipped 2.33 per cent on the Bombay Stock Exchange,taking its market capitalisation to Rs 79,800 crore at the end of Friday’s trade.
Infosys has reported 29.1 per cent growth in the fourth quarter,with its net profit at Rs 1,613 crore. However,it gave a bleak revenue guidance on dollar earnings for the 2010 fiscal,which analysts say has dampened investor sentiment.
📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines