Nine of top ten most-valued firms give up ₹98,863 cr in market valuation

NEWDELHI: Nine of the top-10 mostvalued companies suffered a combined erosion of ₹98,862.63 crore in market valuation last week, with Reliance Industries Ltd (RIL) and State Bank of India (SBI) taking the steepest hit.

ITC was the only gainer from the top-10 list. RIL, Tata Consultancy Services (TCS), HDFC Bank, HUL, Infosys, HDFC, Kotak Mahindra Bank, SBI and ICICI Bank suffered losses for the week ended Friday, according to a weekly analysis of their market capitalization (m-cap) trend on the BSE.

Over the last week, the Sensex dropped 737.53 points, or over 2%, to close at 35,808.95 on Friday. From the most-valued companies’ list, RIL’s valuation slumped ₹21,456.38 crore to ₹7,88,213.12 crore, the biggest hit among the top-10 firms. The m-cap of SBI plunged ₹19,723.34 crore to ₹2,34,672.03 crore and that of TCS plummeted ₹11,951.35 crore to ₹7,62,071.81 crore.

HDFC’s valuation tumbled ₹11,725.23 crore to ₹3,22,531.39 crore and that of HUL tanked ₹9,600.22 crore to ₹3,83,803.08 crore. The m-cap of ICICI Bank dived ₹8,293.27 crore to ₹2,20,351.47 crore and that of Infosys dropped ₹7,906.92 crore to ₹3,24,044.79 crore. In contrast, ITC added ₹4,593.55 crore to ₹3,42,495.09 crore.