While the recent correction in the markets has brought the benchmark indices back to levels seen before the 2014 general elections, the table of the top Nifty companies has undergone significant changes.
Among the stocks that have moved up include Infosys, Sun Pharmaceuticals and Hindustan Unilever, while Oil & Natural Gas Corporation (ONGC), State Bank of India (SBI), ICICI bank, Larsen & Toubro and Coal India have seen sharp fall in their rankings since May 2014.
Tata Consultancy Services (TCS) and Reliance Industries (RIL) maintain their first and second positions with market capitalisation of Rs 4.56 lakh crore and Rs 3.04 lakh, crore respectively. While TCS’ market value increased by R33,000 crore, RIL’s market cap dipped by Rs 28,000 crore in the last 21 months.
ONGC, which was the third most valued company in May 2014 with market cap of Rs 3.06 lakh crore, has dropped to the ninth position as its market value now stands at Rs 1.78 lakh crore.
SBI, which held the eighth position, is out the top ten and currently stands at the 13th position with its market cap slipping from Rs 1.67 lakh crore to Rs 1.24 lakh crore.
On the back of a 6% decline in its share prices, Coal India now has market value of Rs 2 lakh crore and has seen its ranking falling by two positions to the seventh place.
Owing to sharp jumps of more than 40% in their share prices, both Infosys and Sun Pharmaceuticals have made the highest jumps in the table to the 3rd and 6th positions. Their rankings were 7th and 13thin May 2014. During this transition, Sun Pharmaceuticals has toppled large-caps such as ONGC, Coal India, SBI and ICICI Bank.