Five of the 10 most valued companies in the country together added Rs 31,381.39 crore in market valuation last week, with ITC topping the chart.
Three of the 10 most valued Indian companies together witnessed an erosion of Rs 1,07,026.12 crore in market capitalisation last week, with IT major TCS taking the biggest knock.
A weak broader market pulled down the combined market valuation of the top 10 most valued Indian companies by a whopping Rs 2,55,995 crore last week, with RIL taking the steepest hit.
The newly constituted board of the beleaguered IL&FS under the chairmanship of Uday Kotak may meet this week again to chalk out the future course of action to resolve the current financial crisis, according to a source.
Mumbai Congress president Sanjay Nirupam Thursday demanded a white paper on the debt-ridden Infrastructure Leasing & Financial Services (IL&FS) and questioned the credibility of the government-appointed board.
India’s Infrastructure Leasing & Financial Services (IL&FS), a debt-burdened infrastructure financing and construction company, has appointed Vineet Nayyar as its managing director, the company’s new Non-Executive Chairman Uday Kotak told.
A parliamentary panel chaired by Congress leader Veerappa Moily will meet in Mumbai on October 30 to discuss the developments in debt-ridden IL&FS and finalise a report within two months.
India took control of Infrastructure Leasing and Financial Services (IL&FS), in a rare move that it said was needed to protect the country’s financial system and markets from potential collapse.
The National Company Law Tribunal (NCLT) allowed the Union government's interim prayer to reconstitute the Board of Infrastructure Leasing & Financial Services Ltd (IL&FS).
Indian shares fell, dragged by financial and energy shares such as Kotak Mahindra Bank and Reliance Industries, while investors were cautious after the central bank announced measures to curb liquidity concerns.