Stocks

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
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