Market cap of top 8 firms surges by Rs 48,000 cr

The combined market capitalisation (m-cap) of the country's eight most valued firms advanced Rs 48,186 crore last week, with petro-chem giant RIL and IT bellwether Infosys emerging as the biggest gainers.

Market value of Reliance Industries Ltd (RIL) surged Rs 12,295 crore to Rs 2,64,656 crore. Similarly, Infosys saw an addition of Rs 11,122 crore to its market cap that stood at Rs 1,45,487 crore.

State-owned ONGC's m-cap jumped Rs 6,759 crore to Rs 2,27,319 crore. Software exporter TCS, too, saw its market value swelling by Rs 9,023 crore to Rs 2,03,061 crore.

FMCG giant ITC's market cap advanced Rs 4,852 crore to Rs 1,53,602 crore, while that of telecom player Bharti Airtel accelerated Rs 1,234 crore to Rs 1,43,584 crore.

Power utility NTPC added Rs 660 crore to its market valuation, which stood at Rs 1,37,905 crore and private lender HDFC Bank added Rs 2,241 crore at Rs 1,09,066 crore.

In contrast, state-owned Coal India Ltd and SBI saw erosion in their market caps. CIL lost Rs 21,128 crore at Rs 2,10,177 crore, while SBI saw a dip of Rs 2,820 crore from its m-cap which stood at Rs 1,21,354 crore.

The Cabinet on Friday cleared the draft Mining Bill which proposed that coal companies share 26% of profits with those affected by their projects. The Bill is expected to be introduced in the winter session of the Parliament.

Following that, CIL plunged 5.15%.

The BSE benchmark Sensex, meanwhile, rose nearly 2% or 292 points to end the week at 16,453.76.