Seven most valued firms lose ₹59,260 cr in m-cap
NEW DELHI: Seven of the top 10 most valued domestic companies saw a combined erosion of ₹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 market capitalisation plummeted ₹14,320.54 crore to ₹4,93,007.39 crore, HDFC Bank’s valuation tumbled ₹11,611.6 crore to ₹5,81,900.65 crore and Kotak Mahindra Bank’s market worth tanked ₹10,205.11 crore to ₹2,53,002.13 crore.
The market capitalisation of Reliance Industries eroded by ₹9,027.32 crore to ₹15,58,987.77 crore and that of
HDFC declined ₹8,144.93 crore to ₹3,09,076.75 crore.
ITC’s valuation fell by ₹5,783.23 crore to ₹2,20,500.76 crore and ICICI Bank’s m-cap dipped ₹166.85 crore to ₹2,55,082.88 crore.
On the other hand, TCS added ₹28,912.12 crore to take its valuation to ₹9,19,615.68 crore.
Tata Consultancy Services on Monday became the second Indian company to attain a market valuation of ₹9 lakh crore after Reliance Industries.
The valuation of Infosys jumped by ₹24,342.45 crore to ₹4,27,025.67 crore and that of Bharti Airtel rose by ₹2,755.05 crore to ₹2,70,977.53 crore.
In the ranking of top 10 companies in terms of market capitalisation, Reliance Industries was ruling the chart followed by TCS, HDFC Bank, Hindustan Unilever, 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%.