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Nine of top 10 cos lose Rs 88,609 crore in m-cap; HDFC, TCS suffer the most

Nine of the 10 most valued firms suffered a combined erosion of Rs 88,609.87 crore in market valuation last week, with HDFC Bank and TCS taking the biggest knock.

Reliance Industries Ltd (RIL) was the lone gainer among the top-10 frontline companies, adding Rs 11,415.21 crore to its market capitalisation (m-cap) for the week ended Friday to reach Rs 8,11,782.20 crore.

On the other hand, HDFC Bank’s valuation plummeted Rs 22,395.4 crore to Rs 6,54,084.95 crore.

The m-cap of Tata Consultancy Services (TCS) dropped Rs 20,150.31 crore to Rs 7,90,983.93 crore.

Hindustan Unilever Ltd (HUL) suffered an erosion of Rs 16,907.1 crore to stand at Rs 3,70,895.36 crore, while that of Kotak Mahindra Bank tumbled Rs 6367.64 crore to Rs 2,83,393.30 crore.

The valuation of SBI tanked Rs 6,291.85 crore to Rs 3,24,454.25 crore and that of ICICI Bank dropped Rs 5,925.68 crore to Rs 2,75,568.83 crore.

ITC’s valuation went down by Rs 5,270.27 crore to Rs 3,37,297.19 crore and that of HDFC fell by Rs 3,795.66 crore to Rs 3,89,340.06 crore.

The m-cap of Infosys dipped Rs 1,505.96 crore to Rs 3,12,292.54 crore.

In the ranking of top-10 firms, RIL was placed at the number one position, followed by TCS, HDFC Bank, HDFC, HUL, ITC, SBI, Infosys, Kotak Mahindra Bank and ICICI Bank.

Over the past week, the BSE Sensex fell by 777.16 points to close at 38,736.23 on Friday.

Source: Business Standard