Infosys tops Reliance in terms of weightage on Sensex, Nifty
14 Dec 2011
Infosys Technologies has emerged as the top stock on the BSE Sensex and the NSE Nifty in terms of weightage, replacing Reliance Industries (RIL), which has dominated the position for several years.
Infosys commands a weightage of 10.24 on the Sensex, as against 10.07 by RIL. The weightage, calculated automatically on a daily basis, is based on the free-float market capitalisation, which means excluding the promoters' share-holding. On the nifty, Infosys had a weightage of 9.13 and RIL 8.48.
The RIL stock has fallen by more than 30 per cent this year, whereas Infosys has lost 21 per cent (the Sensex has seen a 23 per cent fall this year). The free-float market value of RIL fell to Rs131,091 crore, while for Infosys it stood at Rs133,305 crore on Monday.
But in terms of market capitalisation (which includes all the shares, including those owned by promoters), RIL is still numero uno at Rs238,347 crore. Infosys has a market cap of Rs156,829 crore. Reliance is followed by TCS and state-owned ONGC and Coal India.
In terms of group weightage, HDFC - which includes the parent firm and HDFC Bank - has a weightage of 13 per cent in the Sensex; the Tata group (with four firms on the Sensex including TCS, Tata Steel, Tata Motors and Tata Power) came second with a weightage of nearly 11. The Reliance group fell to the third position earlier this year.
RIL's ranking in the Fortune 500 companies in India, however, remain unchanged. With revenues of Rs2,72,923 crore, it retains it second spot in the latest Fortune 500 rankings. Top of the list is state-owned Indian Oil Corporation (IOC), with revenues of Rs3,23,113 crore.
The two behemoths are followed by Bharat Petroleum (at Rs1,56,580 crore) and State Bank of India (Rs1,47,844 crore), both state-owned. Others in the top-10 Fortune 500 list include Hindustan Petroleum, Tata Motors, ONGC, Tata Steel, Hindalco and Coal India. Six of the companies in the top-10 slot are owned by the government.
The combined revenues of the 500 largest corporations in India, according to Fortune magazine, add up to Rs45,79,911 crore.