Essay on Gfkhn

722 Words Feb 23rd, 2009 3 Pages
hffg Having an ownership pie in AIG, once the world's biggest insurer, does not cost even half a dollar now, while Citigroup, again once the world's biggest bank, is hanging just over one-buck mark.

Not far away are General Motors and Ford, the world's two largest carmakers, with share prices of just over one-dollar level. A year or so ago, these names were among the prized brands of the stock market also, besides the areas of their businesses, with share prices in multiples of current levels.

Giving company to these and many other once blue-chip stocks in their free-fall towards near-zero levels are macroeconomic indicators like interest rate, inflation and GDP growth rates, not only in the world's biggest economy, the USA, but
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Private telecom service provider Bharti Airtel and IT behemoth Infosys Technologies lost Rs 6,549 crore and Rs 693 crore, respectively, from their market caps in the past week.

State-run trading firm MMTC saw its valuation come down by Rs 4,458 crore last week.

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Meanwhile, power equipment maker BHEL jumped up one position to notch the seventh place, even after its market cap came down by Rs 4,097 crore, while diversified conglomerate ITC slipped to the eighth position, losing Rs 6,848 crore from its market valuation.

Country's largest public sector lender SBI saw an erosion of Rs 5,476 crore and mining giant NMDC witnessed a loss of Rs 3,092 crore from its market valuation.

Besides the list of top 10 most valued firms of BSE, two private sector lenders ICICI Bank and HDFC Bank witnessed a combined erosion of over Rs 10,108 crore from its valuation last week.

While, ICICI Bank saw its valuation plummeting by Rs 6,546 crore to Rs 29,980 crore, HDFC Bank lost only Rs 3,562 crore to Rs 34,075 crore at the end of trade on Friday.

RIL, the numero-uno in the list, is followed by NTPC (Rs 1,45,821 crore), ONGC (Rs 1,44,042 crore), Bharti Airtel (Rs 1,143,02 crore), Infosys (Rs 69,816 crore), MMTC (Rs 65,840 crore), BHEL (Rs

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