Six of top-10 firms lose Rs 78,275 crore in m-cap; RIL, TCS hit hard
Six of the 10 most valued domestic firms together lost Rs 78,275 crore in market valuation last week, pulled down largely by heavyweights Reliance Industries Limited (RIL) and Tata Consultancy Services (TCS). RIL, TCS, HDFC Bank, Hindustan Unilever Limited (HUL), Bharti Airtel, and Kotak Mahindra Bank suffered an erosion in their market capitalisation (m-cap) for the week ended Friday. However, Infosys, HDFC, ITC, and ICICI Bank finished with gains. RIL's valuation dropped by Rs 20,666.46 crore to Rs 13.4 lakh crore, taking the biggest drop among the 10 most valued firms. The market capitalisation of TCS tanked Rs 19,700.02 crore to Rs 8.41 lakh crore and that of Bharti Airtel declined Rs 17,294.12 crore to Rs 2.88 lakh crore. Hindustan Unilever Limited's valuation diminished by Rs 8,634.6 crore to Rs 5.10 lakh crore. The m-cap of Kotak Mahindra Bank eroded by Rs 6,728.15 crore to Rs 2.58 lakh crore and that of HDFC Bank by Rs 5,251.77 crore to Rs 5.68 lakh crore. In contrast, HDFC's valuation jumped Rs 12,609.98 crore to Rs 3.21 lakh crore. ICICI Bank added Rs 2,338.16 crore to Rs 2.34 lakh crore and the valuation of Infosys rose by Rs 1,171.31 crore to Rs 4.06 lakh crore. ITC's market capitalisation gained Rs 604.97 crore to Rs 2.41 lakh crore. In the ranking of ten most valued companies, RIL was in the lead place followed by TCS, HDFC Bank, HUL, Infosys, HDFC, Bharti Airtel, Kotak Mahindra Bank, ITC and ICICI Bank. During the week, the BSE Sensex fell 163.23 points, or 0.42 per cent.