E-Paper
Nine of 10 most valued firms lose ₹3.96 lakh crore in market valuation; RIL biggest loser
TCS had on Monday surpassed RIL to become the country's most valued firm by market capitalisation.
The combined market valuation of nine of the top 10 valued domestic companies eroded by a whopping ₹3,96,629.40 crore last week in tandem with a weak broader market, where Reliance Industries Limited took the biggest hit.
In the last week, the 30-share BSE benchmark tumbled 2,592.77 points or 5.30 per cent due to profit-booking ahead of the Union Budget.
Only ICICI Bank managed to witness addition in its market valuation the holiday-truncated last week. Its valuation rose by ₹2,397.43 crore to ₹3,70,773.35 crore.
Reliance Industries accounted for the lion's share of the total loss. Its valuation tumbled ₹1,30,909.45 crore to reach ₹11,68,454.02 crore.
The market capitalisation of Tata Consultancy Services tanked ₹71,482.92 crore to ₹11,68,079.84 crore and that of Infosys plunged ₹42,936.43 crore to ₹5,28,040.02 crore.
TCS had on Monday surpassed RIL to become the country's most valued firm by market capitalisation. But on Friday Reliance Industries Limited (RIL) once again went past Tata Consultancy Services (TCS) to take the coveted title.
HDFC's valuation declined ₹38,083.07 crore to ₹4,28,040.72 crore and that of Hindustan Unilever Limited dived ₹34,150.8 crore to ₹5,31,798.56 crore.
The market capitalisation of HDFC Bank eroded by ₹28,894.3 crore to ₹7,66,218.59 crore and of Kotak Mahindra Bank dipped by ₹23,320.13 crore to ₹3,39,345.13 crore.
The valuation of Bajaj Finance declined by ₹13,949.9 crore to ₹2,85,382.35 crore and that of Bharti Airtel by ₹12,902.4 crore to ₹3,01,801.43 crore.
In the ranking of top-10 companies, Reliance Industries was leading the chart followed by TCS, HDFC Bank, Hindustan Unilever Limited, Infosys, HDFC, ICICI Bank, Kotak Mahindra Bank, Bharti Airtel and Bajaj Finance.