Market-capitalization of Six Sensex Firms Plunged by Over 25,000 Crore


Mumbai: The combined market capitalization (m-cap) of six of the top 10 Sensex blue-chips declined by 25,128 crore last week, with energy major ONGC taking the biggest hit. The company lost 8,171 crore in m-cap which reached 233,821 crore on March 16. Its scrip slipped by over 3 percent to 273.30 during the trading week, which left investors disappointed by RBI's monetary policy that did not cut lending rates amid high inflation. Besides, the Union Budget 2012-13 on Friday was viewed as focussed more on mopping taxes, adding to inflationary pressures, rather than pushing reforms. TCS took the second biggest hit with a drop of 7,604 crore and its m-cap reached 228,505 crore. Bharti Airtel was another loser on the list as its market worth saw an erosion of 4,519 crore to 124,179 crore, while HDFC Bank's value dipped 3,551 crore to 118,986 crore. NTPC's m-cap diminished by 742 crore to 142,399 crore, and that of RIL fell 541 crore to 252,778 crore. Coal India (CIL), ITC, Infosys and SBI recorded gains. CIL added 4,674 crore to m-cap, taking its value to 216,177 crore, while ITC's market value surged 6,089 crore to 168,677 crore. Infosys' m-cap advanced 356 crore to 164,574 crore and SBI's value jumped 359 crore to 141,474 crore. The BSE 30-scrip barometer Sensex fell 0.21 percent to 17,466.20 during the week.
Source: PTI