Amid a weak stock market, seven of top 10 Sensex companies lost Rs 27,649 crore in their combined market valuations with Coal India taking the biggest hit of Rs 7,138 crore last week.
CIL’s market capitalisation (m-cap) dropped by Rs 7,138 crore to Rs 1,91,480 crore last week.
CIL had on Friday reported an 11.7 per cent dip in standalone net profit at Rs 1,223.5 crore for the quarter ended March 31, 2012. The company had reported a net profit of Rs 1,385.7 crore in the January-March quarter of 2010-11.
ONGC suffered the second biggest loss in m-cap as it lost Rs 5,048 crore taking the valuation to Rs 2,12,817 crore on Friday.
TCS saw its market value plunging by Rs 3,924 crore to Rs 2,37,107 crore, while Bharti Airtel shed Rs 3,722 crore taking its market worth to Rs 1,12,900 crore.
The m-cap of RIL slipped Rs 2,833 crore to Rs 2,25,501 crore, while NTPC saw an erosion of Rs 2,556 crore in its market value which was Rs 1,19,765 crore and HDFC Bank’s value declined Rs 2,428 crore to Rs 1,17,437 crore.
However, ITC, Infosys and SBI saw spurt in their values.
Among the gainers, SBI stole the show as its market worth soared Rs 6,026 crore to Rs 1,30,316 crore.
SBI had on Friday posted net profit of Rs 4,050.27 crore in the fourth quarter ended March 2012, against just Rs 20.88 crore recorded in fourth quarter of previous fiscal.
Its profits had taken a big hit in Q4 of 2010-11 on account of higher provisioning for bad loans and increased tax outgo.
Helped by better than expected financial results, shares of the company had gained 5.1 per cent on Friday.
“SBI shares gained on the back of strong quarterly results. Even though it looks like a phenomenal growth in its net level this quarter it is not justified to compare net profit year-on-year basis,” said Ms Sharmila Joshi, Head (Equity) at Fairwealth Securities.
Meanwhile, Infosys added Rs 4,223 crore taking its m-cap to Rs 1,36,976 crore, while ITC’s value climbed Rs 4,222 crore to Rs 1,87,016 crore.
In the list of the top-10 companies, TCS continued to enjoy the numero-uno position, followed by RIL. ONGC was at third place, followed by CIL, ITC, Infosys, SBI, NTPC, HDFC Bank and Bharti in that order.
In the broader market, the BSE benchmark Sensex lost about one per cent to end the week at 16,152.75.