Seven of top-10 firms shed Rs 50,000 cr in m-cap

The combined market capitalisation (m-cap) of seven of the country's top-10 firms reduced by Rs 49,551.83 crore during the past week, with corporate giant Reliance Industries bearing the maximum loss.

The market worth of Mukesh Ambani-led Reliance Industries (RIL) declined by Rs 23,550.18 crore to Rs 2,99,320.42 crore as on Friday's trade on the Bombay Stock Exchange (BSE).

During this period, shares of RIL plunged 7.29 per cent to close at Rs 914.50 at the end of Friday's trade on the BSE.

Two of the IT bellwethers--TCS and Infosys Technologies-- together shed Rs 10,201.64 crore from their cumulative market valuations.

In the previous trading session, the m-cap of TCS was at Rs 2,31,448.69 crore, while that of Infosys stood at Rs 1,82,196.98 crore.

State-run Coal India Ltd (CIL) also saw its valuation dipping by Rs 6,190 crore to Rs 1,92,112 crore. FMGC honcho ITC's m-cap also went into a tailspin, plunging by Rs 396.88 crore to Rs 1,29,885.53 crore.

Telecom player Bharti Airtel also shed Rs 3,607.64 crore from its m-cap which stood at Rs 1,24,216.88 crore.

Similarly, private-sector lender ICICI Bank lost Rs 5,605.46 crore from its m-cap which stood Rs 1,16,824.47 crore.

Meanwhile, riding high on the smart quarterly numbers, oil & gas explorer ONGC's m-cap increased by Rs 6,534.25 crore to Rs 2,42,890 crore. The company had late last week reported an over two-fold jump in its net profit at Rs 7,083 crore for the quarter ended December 31, 2010.

Country's top lender SBI also added Rs 1,308 crore to its m-cap which stood at Rs 1,66,275.31 crore, while power major NTPC saw its valuation swelling by Rs 1,814 crore to Rs 1,58,147.92 crore.

During the week, the BSE 30-share barometer index Sensex also slipped by 3.21 per cent to settle at 18,395.97 in the last trading session.