The combined market capitalisation (m-cap) of five of the country’s top 10 companies plunged by a hefty Rs 26,000 crore last week, with state-owned Coal India Ltd emerging the biggest loser.
During the week ended February 22, five companies—Coal India, FMCG major ITC, SBI, >ICICI Bank and IT giant Infosys—saw value erosion of Rs 26,650 crore collectively.
On the other hand, ONGC, Tata Consultancy Services and Reliance Industries Ltd together added Rs 12,637 crore to their market cap.
Mortgage lender HDFC slipped out of the top 10 list, while power producer NTPC moving in.
State-owned coal entity CIL was the biggest loser during the week, shedding Rs 10,927 crore from its m-cap at Rs 2.09 lakh crore. It was followed by ITC, which lost Rs 6,110 crore in value at Rs 2.30 lakh crore.
ICICI Bank’s m-cap dropped Rs 3,667 crore at Rs 1.25 lakh crore, while that of Infosys plunged Rs 3,479 crore at Rs 1,62,886 crore. Besides, SBI saw its valuation tumbling by Rs 2,467 crore to Rs 1.47 lakh crore.
On the other hand, energy giant RIL was the biggest gainer adding Rs 5,152 crore to its m-cap to Rs 2.78 lakh crore.
TCS continued at its numero-uno position by adding Rs 2,610 crore in its valuation to Rs 2.84 lakh crore. State-run ONGC saw its valuation climbing by Rs 1,925 crore to a total of Rs 2.77 lakh crore.
In terms of ranking, TCS topped the list, followed by RIL, ONGC, ITC, CIL, Infosys, HDFC Bank, SBI, ICICI Bank and NTPC.
The BSE 30-stock index, >Sensex , closed at 19,325, down 317 points on Friday. For the week, it was down 1 per cent.