I thought market cap = number of shares * price of each share.

But I checked for a few companies & this doesn't seem to be true.

e.g.

HCL Infosystems

http://www.moneycontrol.com/india/st...nfosystems/HCL

Market cap mentioned on the page is 2339.73 cr.

Price = 107

From

http://www.moneycontrol.com/financia...rofit-loss/HCL

No of shares = 1,712.12 lakh.

But 1712.12 * 100000 * 107 = 1832 crore.

So where am I going wrong?

The latest shareholding pattern from NSE gives total number of shares as 218258502.

So 218258502*107.90 (LTP) = 2355 Cr, close to your figure for market cap from moneycontrol.

I'm not sure of the number of shares reported on moneycontrol.

The total number of shares issued for HCL Infosystems increased in Q4 of 2009.

1,64,38,848 warrants were converted to shares in October 2009.

3,05,55,713 new shares were issued to QIBs in October 2009.

Besides that, every few months, a small number of shares are issued to employees.

The data provided by the exchanges is the most accurate and as far as possible, one should use exchanges' data.

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