Stocks

Seven of top 10 companies lose over ₹1 lakh cr in market capitalisation

PTI New Delhi | Updated on October 06, 2019 Published on October 06, 2019

Seven of the ten most valued domestic companies suffered a combined erosion of ₹1 lakh crore in their market valuation last week with HDFC Bank taking the biggest hit by losing over ₹30,000 crore.

Besides HDFC Bank, the other losers included Reliance Industries (RIL), Hindustan Unilever (HUL), HDFC, Kotak Mahindra Bank, ICICI Bank and Bajaj Finance.

On the other hand, Tata Consultancy Services (TCS), Infosys and ITC are among the top 10 firms that saw a rise in their market valuation for the week ended Friday.

Market capitalisation (m-cap) of HDFC Bank dropped the most by ₹30,198.62 crore to ₹6,50,446.47 crore.

ICICI Bank’s market value slid by ₹22,866.93 crore to ₹2,67,265.32 crore and Kotak Mahindra Bank tumbled by ₹15,624.6 crore to ₹2,98,413.27 crore.

Similarly, the market valuation of HUL tanked by ₹14,287.76 crore to ₹4,20,774.52 crore, while HDFC lost ₹10,178.84 crore from its m-cap, standing at ₹3,41,349.33 crore.

Besides, Bajaj Finance dropped by ₹9,437.91 crore to ₹2,26,309.37 crore, and the valuation of RIL stood at ₹8,28,808.67 crore, a loss of ₹824.08 crore.

In contrast, valuation of TCS jumped ₹8,236.49 crore to ₹7,79,989.45 crore, and that of Infosys rose ₹4,681.59 crore to ₹3,40,704.24 crore.

The m-cap of ITC advanced ₹5,344.62 crore to ₹3,16,069.96 crore.

In terms of ranking of top-10 firms, RIL retained its top position, followed by TCS, HDFC Bank, HUL, HDFC, Infosys, ITC, Kotak Mahindra Bank, ICICI Bank and Bajaj Finance, which pipped State Bank of India to acquire the tenth position.

During the week, Sensex plummeted 1,149.26 points or 2.96 per cent, while Nifty declined 337.65 points or 2.93 per cent.

Published on October 06, 2019
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