Seven of top 10 most valued firms lose Rs 59,260 cr in cumulative market valuation
Seven of the top 10 most valued domestic companies saw a combined erosion of Rs 59,259.58 crore in their market valuation last week, with Hindustan Unilever, HDFC Bank and Kotak Mahindra Bank emerging as major laggards.
The seven firms clocking losses in their market capitalisation (m-cap) were Hindustan Unilever (HUL), HDFC Bank, Kotak Mahindra Bank, Reliance Industries, HDFC, ITC and ICICI Bank.
In contrast, Tata Consultancy Services (TCS), Infosys and Bharti Airtel saw gains in their valuation for the trading week closed on Friday.
HUL’s m-cap plummeted Rs 14,320.54 crore to Rs 4,93,007.39 crore, HDFC Bank’s valuation tumbled Rs 11,611.6 crore to Rs 5,81,900.65 crore and Kotak Mahindra Bank’s market worth tanked Rs 10,205.11 crore to Rs 2,53,002.13 crore.
The market cap of RIL eroded by Rs 9,027.32 crore to Rs 15,58,987.77 crore and that of HDFC declined Rs 8,144.93 crore to Rs 3,09,076.75 crore.
ITC’s valuation fell by Rs 5,783.23 crore to Rs 2,20,500.76 crore and ICICI Bank’s m-cap dipped Rs 166.85 crore to Rs 2,55,082.88 crore.
On the other hand, TCS added Rs 28,912.12 crore to take its valuation to Rs 9,19,615.68 crore.
Tata Consultancy Services on Monday became the second Indian company to attain a market valuation of Rs 9 lakh crore after Reliance Industries.
The valuation of Infosys jumped by Rs 24,342.45 crore to Rs 4,27,025.67 crore and that of Bharti Airtel rose by Rs 2,755.05 crore to Rs 2,70,977.53 crore.
In the ranking of top 10 companies in terms of m-cap, RIL was ruling the chart followed by TCS, HDFC Bank, HUL, Infosys, HDFC, Bharti Airtel, ICICI Bank, Kotak Mahindra Bank and ITC.
During the last week, the BSE benchmark Sensex dropped 8.73 points or 0.02 per cent.