Reliance Industries valuation plunged by ₹15,180.46 crore to ₹7,94,074.52 crore. Photo: Reuters
New Delhi: Eight of the 10 most valued Indian companies together suffered an erosion of ₹41,660 crore in their market valuation last week, with Mukesh Ambani-led Reliance Industries (RIL) alone accounting for over ₹15,000 crore.
Only HDFC and Infosys added to their market capitalisation (m-cap) in the week ended Friday.
The valuation of RIL plunged by ₹15,180.46 crore to ₹7,94,074.52 crore, while that of Tata Consultancy Services (TCS) dipped by ₹6,278.86 crore to ₹7,89,949.92 crore. HDFC Bank’s m-cap dropped ₹7,778.30 crore to ₹5,50,915.33 crore. The valuation of ITC dived ₹4,219.81 crore to ₹3,75,441.05 crore.
FMCG major Hindustan Unilever (HUL) saw its valuation slump by ₹1,904.89 crore to ₹3,52,869.55 crore, while Maruti Suzuki India tanked by ₹3,011.74 crore to Rs2,60,781.18 crore.
Public sector lender State Bank of India (SBI) witnessed a fall of ₹1,294.07 crore in its valuation to ₹2,59,170.02 crore and Kotak Bank saw an erosion of ₹1,992.38 crore from its m-cap to ₹2,35,939.35 crore.
On the contrary, HDFC’s m-cap rose by ₹238.24 crore to ₹3,25,872.37 crore and technology giant Infosys’ valuation surged by ₹904.96 crore to ₹3,21,163.52 crore.
In the ranking of top-10 firms, RIL stood at number one position followed by TCS, HDFC Bank, ITC, HUL, HDFC, Infosys, Maruti, SBI and Kotak Mahindra Bank. Benchmark Sensex lost some 300 points or 0.77% during the week.