Saturday, July 9, 2011
Most valuable PSU Get by ONGC
State-owned Coal India's stock value took a sharp hit last week, the rating dropped to Rs 2.2 lakh crore, paving the way for oil and gas major ONGC to go up as the top PSU M-cap.
Coal India Ltd (CIL) fell sharply on heavy sell-off in metals and mining companies, after the Centre approved a bill proposed that the profits they share with the people displaced from their projects or pay them royalties.
Rs 13,927.58 crore CIL rating dipped to RS 2,28,652.23 crore, pulling it down to fourth place in the second after Reliance Industries, as the first July. ONGC sailed past TCS, which was in third place, DAU place in the overall standings to catch as Friday.
CIL was the biggest loser in the top 10 companies in the country. It tanked nearly 6 percent during the week to end at Rs 362nd On Friday alone, threw 8.12 percent to the Scriptures.