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Six of top 10 firms lose Rs 64,419 crore in m-cap; RIL takes biggest hit

NEW DELHI: Six of the 10 most valued Indian companies suffered a combined erosion of Rs 64,419.10 crore in market valuation last week, with RIL taking the biggest knock.

While TCS, HDFC Bank, Kotak Mahindra Bank, SBI and ITC were the other firms which witnessed a decline in their market capitalisation (m-cap) for the week ended Friday, HDFC, HUL, ICICI Bank and Infosys emerged as gainers.

The valuation of Reliance Industries Limited (RIL) tumbled Rs 36,291.90 crore to Rs 9,77,600.27 crore.

HDFC Bank’s market cap plunged Rs 11,666.10 crore to Rs 6,98,266.18 crore and that of Tata Consultancy Services (TCS)Â tanked Rs 9,155.82Â crore to Rs 8,24,830.44 crore.

The m-cap of ITC fell Rs 5,241.22 crore to Rs 2,91,238.23 crore and that of Kotak Mahindra Bank slipped Rs 1,528.55 crore to Rs 3,21,960.76 crore.

SBI’s valuation dipped Rs 535.48 crore to Rs 3,00,982.52 crore.

In contrast, Housing Development Finance Corporation (HDFC) topped the gainers’ chart, with its market cap rising by Rs 6,992.28Â crore to reach Rs 4,22,659.93 crore.

ICICI Bank added Rs 2,371.84 crore to its valuation to stand at Rs 3,55,415.68 crore.

The m-cap of Infosys went up by Rs 2,050.79 crore to Rs 3,13,769.82 crore, while that of Hindustan Unilever Limited (HUL) advanced Rs 616.97 crore to Rs 4,22,127.53 crore.

In the ranking of top-10 firms, RIL continued to lead the chart, followed by TCS, HDFC Bank, HDFC, HUL, ICICI Bank, Kotak Mahindra Bank, Infosys, State Bank of India (SBI) and ITC.

During the last holiday-shortened week, the BSE Sensex declined 106.4 points or 0.25 per cent.

Source: Economic Times