8 of top-10 cos shed Rs 40,000 cr in m-cap

In a truncated trading week, eight out of the 10 most valued firms lost nearly Rs 40,000 crore from their market capitalisation, with Reliance Industries losing the most.
    
Mukesh Ambani-led Reliance Industries, the numero-uno firm in the list, which will come out with its yearly figures for the last fiscal on April 23, saw its valuation falling by Rs 13,294.06 crore, reducing its total market capitalisation (m-cap) to Rs 3,54,279.18 crore for the week ended April 17.
    
The BSE benchmark index Sensex fell in all the trading sessions to close the week below the 17,600-level. The Sensex shed 48 points, or 0.27 per cent, in Friday's trading session before settling at 17,591.18 points.
    
Meanwhile, two IT firms, TCS and Infosys Technologies, were able to buck the trend and added Rs 10,521.13 crore to their market capitalisation.
    
State-run oil firm ONGC, the second most valued company by m-cap, and power utility NTPC saw their combined valuation decline by Rs 10,30.66 crore.
    
ONGC's market valuation fell to Rs 2,20,613.75 crore and NPTC saw its m-cap reduced to Rs 1,71,175.75 crore.
    
IT bellwether Infosys Technologies, which came out with its yearly performance earlier in the week and gave an impressive revenue growth projection of 16-18 per cent for the current fiscal, jumped to 4th position from 6th in the list of top-10 firms after adding Rs 6,137.01 crore to its m-cap.
    
For the quarter ended March 31, 2010, Infosys posted a net profit of Rs 1,600 crore.
    
Top outsourcing firm TCS, at 5th place, witnessed a surge of Rs 4,384.12 crore in its m-cap, taking its total valuation to Rs 1,59,502.01 crore.
    
Trading firm MMTC, which slipped to 6th place from 4th after losing Rs 2,926.5 crore from its m-cap, saw its total market valuation decline to Rs 1,55,688.5 crore.
    
Two state-run firms -- SBI and BHEL -- together lost Rs 7,281.24 crore from their m-cap.
    
The country's largest public sector lender, SBI, at 7th place, saw its m-cap fell by Rs 3,793.41 crore to Rs 1,29,947.24 crore and BHEL, at the 8th spot, saw its valuation decline by Rs 3,487.83 crore, taking its total valuation to Rs 1,22,012.86 crore.
    
Mining giant NMDC, at 9th place, lost Rs 3,746.65 crore from its valuation and private telecom services provider Bharti Airtel saw its valuation fall by Rs 1,405.08 crore.
    
At the end of the week, the total m-cap of NMDC stood at Rs 1,15,789.06 crore and Bharti Airtel's valuation fell to Rs 1,15,577.52 crore.
    
The market traded for four days this week, with Wednesday (April 14) being a holiday on account of Ambedkar Jayanti.