The combined market capitalisation (m-cap) of seven of the country’s top-10 most-valued companies advanced by Rs 57,340 crore last week, with energy majors Reliance Industries Ltd (RIL) and ONGC being the biggest gainers.
RIL, ONGC, Coal India Ltd, NTPC, Bharti Airtel, SBI and HDFC Bank saw gains in their valuation amid a strong market, which rallied by 3.61 per cent last week. However, IT majors TCS and Infosys and FMCG giant ITC saw their market capitalisation eroded.
RIL added Rs 20,072 crore to its m-cap during the week, taking it to Rs 2,59,778 crore on January 20, while state-run ONGC saw its value surge by Rs 13,047 crore to Rs 2,35,275 crore.
Coal India saw a modest addition of Rs 126 crore to its m-cap, taking its valuation to Rs 2,17,156 crore, while power major NTPC’s m-cap rose by Rs 6,926 crore to Rs 1,43,759 crore. Telecom player Bharti Airtel’s worth jumped by Rs 2,810 crore to Rs 1,29,856 crore.
In addition, SBI added Rs 9,821 crore to its m-cap, which stood at Rs 1,22,669 crore on January 20, and HDFC Bank’s valuation rose by Rs 4,538 crore to Rs 1,14,303 crore.
TCS saw a dip of Rs 1,507 crore in its market capitalisation to Rs 2,11,164 crore, while rival Infosys saw its value eroded by Rs 115 crore to Rs 1,48,352 crore.
The country’s biggest software exporter TCS had on January 17 reported its third quarter results, which largely met street expectations.
Market experts, however, said the sluggish management commentary on the challenging quarter ahead and muted volume growth led to the decline in the stock.
ITC’s m-cap diminished by Rs 4,210 crore to Rs 1,56,975 crore during the week.
