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Six of the 10 most valued Indian companies suffered a combined erosion of ₹62,147.7 crore in market valuation last week, with RIL and TCS taking the biggest knocks amid a weak broader market.
HDFC Bank, ITC, SBI and ICICI Bank were the other laggards in the top-10 pack, while HDFC, Hindustan Unilever Ltd (HUL), Infosys and Kotak Mahindra Bank saw an increase in their market capitalisation (m-cap) for the week ended on Friday.
The market valuation of RIL plunged ₹20,031.5 crore to ₹7,91,750.71 crore ahead of its Q1 results, which were declared after market hours on Friday. The m-cap of Tata Consultancy Services (TCS) dropped ₹11,632.4 crore to ₹7,79,351.54 crore.
ICICI Bank’s valuation tumbled ₹10,928.1 crore to ₹2,64,640.73 crore and that of ITC plummeted ₹8,035.26 crore to ₹3,29,261.93 crore. The market cap of SBI tanked ₹6,738.08 crore to ₹3,17,716.17 crore and that of HDFC Bank declined ₹4,782.42 crore to ₹6,49,302.53 crore.
In contrast, the valuation of Infosys zoomed ₹25,125.99 crore to ₹3,37,418.53 crore. HDFC added ₹8,152.05 crore to its m-cap to reach ₹3,97,492.11 crore. Kotak Mahindra Bank’s valuation climbed ₹2,990.49 crore to ₹2,86,383.79 crore, while that of HUL moved up by ₹2,489.52 crore to ₹3,73,384.88 crore.
In the ranking of top-10 firms, RIL was placed at the number one position, followed by TCS, HDFC Bank, HDFC, HUL, Infosys, ITC, SBI, Kotak Mahindra Bank and ICICI Bank. During the last week, the Sensex declined 399.22 points or 1.03 per cent, to close at 38,337.01 on Friday.
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