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Eight out of the 10 most valued Indian companies together suffered an erosion of Rs 41,660 crore in their market valuation last week, with Mukesh Ambani-led Reliance Industries (RIL) alone accounting for over Rs 15,000 crore.
Only HDFC and Infosys saw an increase in their market capitalisation (m-cap) in the week ended Friday. RIL’s valuation plunged by Rs 15,180.46 crore to Rs 7,94,074.52 crore, while that of Tata Consultancy Services (TCS) dipped by Rs 6,278.86 crore to Rs 7,89,949.92 crore.
HDFC Bank’s m-cap dropped Rs 7,778.30 crore to Rs 5,50,915.33 crore. Valuation of ITC dived Rs 4,219.81 crore to Rs 3,75,441.05 crore. FMCG major Hindustan Unilever (HUL) saw its valuation slump by Rs 1,904.89 crore to Rs 3,52,869.55 crore, while Maruti Suzuki India tanked by Rs 3,011.74 crore to Rs 2,60,781.18 crore.
Public sector lender State Bank of India (SBI) witnessed a fall of Rs 1,294.07 crore in its valuation to Rs 2,59,170.02 crore and Kotak Bank saw an erosion of Rs 1,992.38 crore to Rs 2,35,939.35 crore.
On the contrary, HDFC’s m-cap rose Rs 238.24 crore to Rs 3,25,872.37 crore and technology giant Infosys’ valuation surged by Rs 904.96 crore to Rs 3,21,163.52 crore.
In the ranking of top-10 firms, RIL stood at number one position followed by TCS, HDFC Bank, ITC, HUL, HDFC, Infosys, Maruti, SBI and Kotak Mahindra Bank. The Sensex lost some 300 points or 0.77 per cent during the week.
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