Six of top-10 firms shed ₹ 87,973.5 cr in m-cap; TCS, HDFC biggest drags

PTI New Delhi | Updated on September 09, 2019 Published on September 08, 2019

The four key large lenders at the centre of the merged groups fell on Tuesday. File Photo   -  BusinessLine

Six of the 10 most valued domestic firms suffered a combined erosion of ₹ 87,973.5 crore in market valuation last week, with TCS and HDFC taking the biggest hit.

Reliance Industries Ltd (RIL), HUL, ITC and ICICI Bank were the other firms which witnessed a drop in their market capitalisation (m-cap), while HDFC Bank, Infosys, Kotak Mahindra Bank and State Bank of India (SBI) were on the gainers’ side.

The m-cap of Tata Consultancy Services (TCS) tanked ₹22,664.4 crore to ₹ 8,24,642.82 crore and that of HDFC plunged ₹ 21,492.9 crore to ₹ 3,52,367.54 crore.

Likewise, the valuation of RIL dropped ₹ 16,386.6 crore to ₹ 7,74,957.81 crore and that of Hindustan Unilever Limited (HUL) tumbled ₹ 13,300.7 crore to ₹ 3,93,703.54 crore.

ICICI Bank’s m-cap declined by ₹ 12,163.3 crore to reach ₹ 2,52,811.76 crore and that of ITC fell by ₹ 1,965.59 crore to ₹ 2,99,692.17 crore.

In contrast, the market cap of Infosys zoomed ₹ 10,973.83 crore to ₹ 3,60,847.99 crore.

HDFC Bank added ₹ 4,692.82 crore to its valuation to stand at ₹ 6,14,134.28 crore, while Kotak Mahindra Bank’s m-cap climbed by ₹ 1,924.67 crore to reach ₹ 2,75,318.74 crore.

The m-cap of SBI rose by ₹ 223.11 crore to ₹ 2,44,489.73 crore.

During the holiday-truncated week gone by, the Sensex lost 351.02 points or 0.94 per cent.

In the ranking of top-10 frontline companies, TCS was at the number one position, followed by RIL, HDFC Bank, HUL, Infosys, HDFC, ITC, Kotak Mahindra Bank, ICICI Bank and SBI.

Published on September 08, 2019
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.