The country’s 10 most valued firms added a whopping Rs 1 lakh crore to their market capitalisation last week.
The week saw an uptrend in the stock market, as state-run MMTC staged a comeback to the elite club.
PSU mining giant MMTC regained its lost turf after nearly a month and grabbed the fifth spot in the list after adding Rs 47,639 crore to its market capitalisation. The company saw its valuation surging to Rs 95,838 crore, from Rs 48,198 crore in the previous period.
Shares of MMTC skyrocketed 98 per cent in the week to settle at Rs 19,167.50 on Friday. Since November 28, when the firm had first slipped out of the elite club, it has gained about 92 per cent.
The total market capitalisation of the top 10 firms — comprising six public sector and four private sector entities — rose for the second straight week to Rs 1,03,780 crore.
At the end of Friday’s trade last week, the combined valuation of the elite club stood at Rs 11,02,154 crore, against Rs 9,98,375 crore a week ago.
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India’s most valued firm Reliance Industries (RIL) added Rs 6,777 crore to its valuation in a week. RIL, which regained Rs 2-lakh-crore-mark in market capitalisation last week, was the numero uno in the list.
Mukesh Ambani-led RIL saw its valuation rising to Rs 212,345 crore at the end of Friday’s trade, from Rs 205,568.45 crore a week ago.
However, cellular giant Bharti Airtel dropped to the fourth place, after losing Rs 142.37 crore in a week. The Sunil Mittal-led company saw its market capitalisation dropping to Rs 1,36,965 crore at the end of Friday’s trade.
The country’s largest lender State Bank of India dropped to sixth position even after witnessing an addition of Rs 4,635 crore in its valuations. The market capitalisation of SBI stood at Rs 81,750 crore at the end of Friday’s trade.