M-cap of five bluechip cos falls Rs 20k cr

M-cap of five bluechip cos falls Rs 20k cr

Led by a steep decline in SBI’s market value on concerns over its exposure to Kingfisher Airlines, the combined market capitalisation of five of the top 10 blue-chip companies eroded by Rs 20,409.84 crore.

Country’s largest lender State Bank of India’s (SBI) market capitalisation (m-cap) dropped by Rs 13,332 crore to Rs 1,40,131 crore. Shares of the company had plunged by over 8 per cent last week on concerns over its exposure to  Kingfisher Airlines and reports of public sector lender giving fresh loans to the debt-ridden carrier. NTPC’s m-cap also dipped by Rs 3,422 crore, while Bharti Airtel’s worth declined by Rs 2,753 crore to Rs 1,29,989 crore last week.