Nov 21, 2006

Bharti Airtel upstages NTPC, ranks fourth in m-cap

Within a short while of toppling TCS from number five slot, cellular services provider Bharti Airtel today pipped NTPC to become the fourth largest in terms of market capitalization.
A near 4% surge in its scrip to Rs 604.30 today enabled Bharti Airtel (BTL) to overtake NTPC to secure the number four slot in the market-cap pecking order. In contrast, NTPC lost 2.4% to settle at Rs 135.65.

At the end of today's trading, BTL enjoyed a market-cap of Rs 1,14,558.96 crore compared to NTPC's Rs 1,11,849.66 crore. The top three firms in terms of market-cap are ONGC, Reliance Industries and Infosys, all three in that order.

The surging BTL counter, which has been setting new records almost every day, had only recently displaced TCS to become fifth largest market-cap firm. The stock has exhibited a solid upmove since late-July 2006.

Continued strong growth in new subscriptions month after month, and bumper Q2 results have also contributed to this remarkable surge. The rally had accentuated recently after BTL entered into a strategic partnership with Microsoft that will offer a range of software and services for small and medium businesses (SMBs) in India. The stock at current Rs 604.30 is up 31.6% in a short while, from Rs 459.10 on 5 October.

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