Seven out of the 10 most valuable companies in the country lost Rs 33,717 crore in combined market capitalisation (m-cap) during the week gone by,with SBI and ONGC the worst-hit as their valuations plummeted by over Rs 10,000 crore each.
However,three companies — RIL,TCS and ITC — bucked the trend and saw their market valuation rise.
During the week,RIL added Rs 1,401 crore to its market capitalisation,which stood at Rs 2,89,402 crore as of November 11,while TCS’s market value rose by Rs 6,204 crore to Rs 2,21,322 crore and ITC’s m-cap surged by Rs 2,044 crore to Rs 1,65,549 crore.
RIL retained the No. 1 slot in the top-10,while ONGC held on to the title of the country’s second-most valuable company.
TCS emerged as the third-most valued company,while CIL was at the fourth place,followed by ITC,Infosys,Bharti,NTPC,SBI and HDFC Bank.
SBI,which declared its results on November 9,saw the maximum erosion in market value during the week,losing Rs 10,579 crore to Rs 1,14,150 crore as of Friday.
On a consolidated basis,SBI reported a 48.60 per cent jump in net profit to Rs 3,470.43 crore for the July- September quarter.
However,its gross non-performing assets (NPA) increased to 4.19 per cent of total assets at the end of September from 3.38 per cent a year ago.
SBI’s provisioning against bad loans also rose by 21 per cent to Rs 4,664 crore during the quarter.
State-owned ONGC’s m-cap was eroded by Rs 10,139 crore to Rs 2,27,404 crore,while Coal India saw a marginal decline of Rs 32 crore in m-cap to Rs 2,06,102 crore.
Last week,Infosys’ m-cap dipped by Rs 3,072 crore to Rs 1,59,375 crore,Bharti’s market worth slipped by Rs 930 crore to Rs 1,50,192 crore,NTPC’s m-cap tanked by Rs 4,824 crore to Rs 1,43,223 crore and HDFC Bank’s value plunged Rs 4,141 crore to Rs 1,08,453 crore.
The BSE benchmark Sensex fell by 2.1 per cent during the past week.