Eight of top 10 companies suffer Rs 1.35 lakh crore hit in market valuation

Eight of top 10 companies suffer Rs 1.35 lakh crore hit in market valuation

MUMBAI: Eight of the 10 most valued Indian firms suffered a combined loss of Rs 1,35,162.15 crore in market capitalisation last week with benchmark BSE Sensex diving around 3 per cent.

Tata Consultancy Services (TCS), Reliance Industries (RIL) and Infosys took a severe beating in market valuation while only two bluechips, HDFC and ICICI Bank, managed to record gains in market capitalisation (m-cap) for the week ended Friday.

HDFC Bank, ITC, Hindustan Unilever (HUL), State Bank of India (SBI) and Kotak Mahindra Bank closed the week with losses in their valuation.

TCS, the country’s most valuable firm, took a hit of Rs 44,071.8 crore during the week in m-cap which was Rs 6,75,279.15 crore at close on Friday.

RIL’s valuation tumbled Rs 36,097.6 crore to Rs 6,62,180.42 crore and that of Infosys nosedived Rs 21,447.9 crore to Rs 2,76,737.95 crore.

ITC’s m-cap slumped Rs 9,549.33 crore to Rs 3,43,592.12 crore and that of SBI plummeted Rs 11,378.9 crore to Rs 2,21,419.02 crore.

The valuation of Kotak Mahindra Bank dived Rs 7,709.87 crore to Rs 2,21,044.81 crore and that of HUL plunged Rs 4,058.72 crore to Rs 3,37,782.64 crore.

Also, HDFC Bank’s m-cap went down by Rs 848.14 crore to Rs 5,33,294.35 crore.

From the gainers side, HDFC added Rs 6,886.95 crore to Rs 2,92,206.11 crore and the m-cap of ICICI Bank went up by Rs 117.47 crore to Rs 2,02,759.47 crore.

ICICI Bank last week made its entry into the top-10 list.

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

Over the last week, the BSE 30-share key index fell by 966.32 points, or about 3 per cent to close at 33,349.31.