Maruti maintains lead

By , agencyfaqs! | In | October 23, 2002
ICICI Prudential Life and Nalco gainers on Cirrus 100. HCL Technologies and Titan Industries decline sharply while Maruti and Reliance Industries maintains status quo at top

The Cirrus Image Index (arrived at by assigning scores for positive articles less the scores contributed by negative articles) that ranks the top 100 companies on a monthly basis, saw Maruti ahead of competition, yet again.

The period September 13 to October 12 saw Maruti Udyog and Reliance Industries as the only two companies within the top ten players in Cirrus 100 to maintain status quo. The automotive major maintained its hold on the No 1 spot, while Reliance Industries stayed put at No.3.

Infosys rose two ranks to No.2 while all other players in the top ten shuffled their ranks. Unit Trust of India fell two places to No.4, HLL and IT giant Wipro fell to No. 8 and No. 7 respectively.

Nine new entrants viz. ESPN Star, Citibank, Steel Authority of India (SAIL), Nestle, Nasscom, Shipping Corporation of India (SCI), BPL Mobile, Balaji Telefilms and Asian Paints made their way into Cirrus 100 during this period.

ICICI Prudential Life Insurance and Nalco were the biggest gainers on Cirrus 100 this month. Both companies jumped nineteen ranks to reach No. 80 and No. 64 respectively. Followed by Haldia Petrochemicals that jumped from No. 71 to No. 58.

HCL Technologies and Titan Industries saw the sharpest decline in rank this month. The former fell nine places to No. 91 while the latter fell eight ranks to No. 93.

Toyota Kirloskar Motor Limited, Satyam Infoways Systems Ltd and Siel Ltd, ABN Amro, LG Electronics and Hindustan Motors were among the other big gainers on Cirrus 100 this month. While among those that lost heavily in rank were MTNL, IBP Ltd., Turner International India Pvt Ltd, Tata Power, and HDFC Bank.

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