7 Of the 10 Valued Indian Cos Lose Rs. 72 K Cr M Value The total market valuation of seven of the 10 most valued Indian companies plunged by Rs 72,452.27 crore during the gone week with Oil and Natural Gas Corporation (ONGC) emerging as the worst hit. While Tata Consultancy Services, Reliance Industries Ltd, HDFC Bank, ONGC, Infosys, Coal India Ltd and State Bank of India faced losses in their market capitalization or M-Cap for the week, ITC, HDFC and Hindustan Unilever Ltd (HUL), on the other hand, made gains. ONGC- The market valuation of ONGC dived by Rs 17,367.65 crore to Rs 2,30,698.79 crore. ONGC share price is trading above 0.09 per cent at Rs. 269.75. ONGC posted a net profit of Rs 4,974.92 crore, up 6.3 per cent. It posted net sales of Rs 18286.62 crore for this quarter. RIL-The M-Cap of RIL fell by Rs 14,724.35 crore to Rs 3,26,205.83 crore . Reliance share price tanked 0.11 per cent, intraday on Monday. Meanwhile, the Centre has fined Reliance Industries and its partners BP and Niko nearly slapped a Rs.10,000 crores for pumping out gas that flowed to the Krishna Godavari-D6 Block from a nearby field owned by ONGC. Reliance and its partners have been given a month time to reciprocate to the notice issued by the Ministry of Petroleum and Natural Gas. TCS- TCS tumbled by Rs 12,709.26 crore to Rs 4,59,129.41 crore. TCS share price tanked nearly 2 per cent, trading at Rs. 2303.95. SBI- SBI's market capitalization dipped by Rs 11,644.17 crore to Rs 1,88,519.04 crore. But the stock rolled above 3 per cent to touch the dayâ€™s high and low at Rs. 250.60 and Rs. 245.50.
Infosys- The market valuation of Infosys slipped down by Rs 7,281.31 crore to Rs 2,22,987.39 crore . While the Indian IT sector is facing tough times, Infosys seems a value buy now. In the recent September quarter, Infosys performed better than all its peers. Infosys share price is quoting at 1.14 per cent. CIL decreased by Rs 6,632.18 crore to Rs 1,99,281.30 crore. This morning, Coal India share price opened at Rs. 318.90. HDFC Bank's market capitalization decreased by Rs 2,093.35 crore to Rs 3,17,052.75 crore. ITC- On the other hand, the M-Cap of ITC increased by Rs 8,722.84 crore to Rs 3,01,786 crore. Even the stock rolled above 3 per cent. HUL- HUL increased by Rs 1,547.46 crore to Rs 1,83,400.64 crore. HUL share price is trading below 10 points. HDFC's market value increased by a mild Rs 23.76 crore to Rs 2,18,747.29 crore. HDFC share price showed a marginal rise by 0.04 per cent.
In the ranking of top 10 firms, TCS maintained its top position, followed by RIL, HDFC Bank, ITC, ONGC, Infosys, HDFC, Coal India, SBI and Hindustan Unilever.
Over the first week of the new 'Samvat 2073', the Sensex and Nifty both registered losses by plunging 667.36 points, or 2.38 per cent, and 204.25 points, or 0.36 per cent, respectively.
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Article Written by Madhurima Chowdhury