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Eight of the top-10 most valued firms together lost ₹2,21,555.61 crore from their market valuation last week in-line with the weak trend in the broader market, with Infosys and HDFC Bank suffering the biggest hit.
The 30-share benchmark index, Sensex, lost 1,141.78 points or 1.95 per cent last week.
From the top-10 pack, only Reliance Industries and Adani Green Energy emerged as the gainers.
The market valuation of Infosys tumbled ₹68,548.8 crore to ₹6,67,062.55 crore. The market capitalisation (mcap) of HDFC Bank dived ₹60,536.97 crore to reach ₹7,51,801.60 crore.
Bharti Airtel's valuation tanked ₹30,127.49 crore to ₹4,05,723.51 crore and that of Tata Consultancy Services plummeted by ₹18,094.01 crore to ₹13,21,594.47 crore. The valuation of State Bank of India declined by ₹15,261.09 crore to ₹4,46,587.56 crore and that of Bajaj Finance went lower by ₹13,264.96 crore to ₹4,30,420.83 crore.
The mcap of ICICI Bank dipped ₹10,376.97 crore to ₹5,19,362.62 crore and that of Hindustan Unilever Limited slumped ₹5,345.32 crore to ₹5,00,392.45 crore. In contrast, the market valuation of Reliance Industries zoomed ₹1,39,357.52 crore to reach ₹18,66,071.57 crore. The market capitalisation of Adani Green went higher by ₹3,698.89 crore to ₹4,51,749.88 crore.
Meanwhile, housing finance company HDFC has been knocked out of the country’s ten most-valued companies in terms of market capitalisation following a significant decline in its share price. During the week ended April 22, shares of the company tumbled 7.19 per cent.
On April 4, HDFC announced to merge operations with HDFC Bank. Once the deal is effective, HDFC Bank will be wholly owned by public shareholders, and existing shareholders of HDFC will own 41 per cent of the bank. The shares of HDFC have tumbled nearly 18 per cent since the merger announcement.
In the ranking of top-10 firms, Reliance Industries was leading the chart, followed by TCS, HDFC Bank, Infosys, ICICI Bank, Hindustan Unilever, Adani Green Energy, State Bank of India, Bajaj Finance and Bharti Airtel.
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