Realty major DLF has surpassed technology firm Infosys Technologies in the market capitalisation (m-cap) ranking on the Bombay Stock Exchange.
DLF, with Rs 1,14,745 crore (Rs 1,147.45 billion) market capitalisation, has grabbed the seventh position, relegating Infosys, with Rs 1,11,357 crore (Rs 1,113.57 billion) m-cap, to the eighth position. DLF has moved up two levels from the ninth rank to reach the seventh rank since its listing on July 5. The Delhi-based company has overtaken ICICI Bank, which currently occupies the ninth slot.
The DLF stock gained 4.10 per cent from Rs 646.70 to Rs 673.05 on Monday and added Rs 4,492 crore (Rs 44.92 billion) to its market cap, while the Infosys stock declined 2 per cent to Rs 1,946.80 (Rs 1,986.80) and eroded Rs 2,288 crore (Rs 22.88 billion) of investors' wealth.
The market price of DLF has appreciated 18.07 per cent from Rs 570.04 since its listing. The company had raised Rs 9,187.50 crore (Rs 91.87 billion) from the IPO at a price of Rs 525 a share.
In comparison, Infosys Technologies has gained just 1.58 per cent to Rs 1,916.55 during the same period. Nine companies have a market capitalisation of more than Rs 1,00,000 crore (Rs 1,000 billion).
Reliance Industries tops the list with Rs 2,66,286 crore (Rs 2662.86 billion), followed by public sector giant ONGC, which ranks second with Rs 1,94,541 crore (Rs 1,945.41) m-cap.
Telecom major Bharti Airtel is at number three with Rs 1,78,512 crore (Rs 1,785.12 billion) m-cap, followed by power giant NTPC (Rs 1,30,155 crore or Rs 1,301.55 billion), Reliance Communications (Rs 1,19,324 crore or Rs 1,193.24 billion) and TCS (Rs 1,16,517 crore or Rs 1,165.17 billion).
