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This is an archive article published on September 12, 2010

9 of top-10 cos add over 58K cr in m-cap

SBI emerged as the third largest company by market capitalisation.

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Nine of the country’s top-10 firms in terms of market cap became wealthier by Rs 58,798.84 crore,amid a strong broader market,with State Bank of India emerging as the biggest gainer.

With a market capitalisation (m-cap) of Rs 1,89,385.77 crore,SBI is only behind RIL and ONGC,among the most coveted companies of the country.

SBI emerged as the third largest company by market capitalisation and added Rs 13,271.29 crore to its m-cap for the week ended September 9.

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During the last week,shares of SBI rose nearly 7 per cent to settle at Rs 2,982.50 at the end of Thursday’s trade on the Bombay Stock Exchange.

According to market experts,the stock rose on expectations of pick up in credit offtake. Also,impressive growth in the economy and better-than-expected first quarter earnings triggered buying in banking sector stocks.

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