Stocks

Four of top-10 companies lose Rs 84,433 crore in market capitalisation

PTI New Delhi | Updated on July 28, 2019 Published on July 28, 2019

Reliance Industries lost Rs 22,123.4 crore in m-cap to stand at Rs 7,69,627.33 crore   -  Reuters

HDFC Bank and HDFC hit hard

Four of the 10 most valued domestic companies together witnessed an erosion of Rs 84,432.8 crore in market capitalisation (m-cap) last week, with HDFC twins taking the biggest hit.

Reliance Industries Limited (RIL) and State Bank of India (SBI) were the other frontline companies that suffered a drop in their market capitalisation (m-cap) for the week ended Friday, while Tata Consultancy Services (TCS), Hindustan Unilever (HUL), Infosys, ITC, Kotak Mahindra Bank and ICICI Bank finished with gains. However, the cumulative gain of these firms at Rs 22,058.3 crore was less than the total loss suffered by the four companies.

The m-cap of HDFC Bank plunged Rs 26,900.6 crore to Rs 6,22,401.90 crore, making it the top loser among the top-10 firms.

It was followed by HDFC, whose valuation tumbled Rs 23,360.6 crore to Rs 3,74,131.53 crore.

RIL lost Rs 22,123.4 crore in m-cap to stand at Rs 7,69,627.33 crore, while SBI’s valuation dropped Rs 12,048.2 crore to Rs 3,05,667.95 crore.

In contrast, the market cap of TCS jumped Rs 11,951.35 crore to Rs 7,91,302.89 crore and that of ICICI Bank zoomed Rs 3,484.66 crore to Rs 2,68,125.39 crore.

ITC added Rs 2,487.11 crore to its valuation to reach Rs 3,31,749.04 crore and Kotak Mahindra Bank gained Rs 2,138.61 crore to Rs 2,88,522.40 crore.

The valuation of HUL climbed by Rs 1,266.41 crore to Rs 3,74,651.29 crore and that of Infosys rose Rs 730.16 crore to Rs 3,38,148.69 crore.

In the ranking of top-10 firms, TCS closed the week with number one ranking, followed by RIL, HDFC Bank, HUL, HDFC, Infosys, ITC, SBI, Kotak Mahindra Bank and ICICI Bank.

TCS on Thursday went past Reliance Industries Limited to become the country’s most valued firm by market valuation yet again.

During the last week, the Sensex lost 454.22 points or 1.18 per cent to close at 37,882.79 on Friday.

Published on July 28, 2019

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