Employees are reflected in a glass panel as they use desktop computers while monitoring data at a securities brokerage in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Nine Of Top 10 Most-Valued Firms Saw Rs 98,863-Crore Market Cap Erosion

Nine of the top 10 most-valued companies suffered a combined erosion of Rs 98,862.63 crore in market valuation last week, with Reliance Industries Ltd. and State Bank of India taking the steepest hit.

ITC Ltd. was the only gainer from the top 10 list. RIL, Tata Consultancy Services Ltd., HDFC Bank Ltd., Hindustan Unilever Ltd., Infosys Ltd., Housing Development Finance Corporation Ltd., Kotak Mahindra Bank Ltd., SBI and ICICI Bank Ltd. suffered losses for the week ended Friday, according to a weekly analysis of their market capitalisation trend on the BSE.

Over the last week, the Sensex dropped 737.53 points, or over 2 percent, to close at 35,808.95 on Friday.

From the most-valued companies’ list, RIL’s valuation slumped Rs 21,456.38 crore to Rs 7,88,213.12 crore, the biggest hit among the top 10 firms.

The market cap of SBI plunged Rs 19,723.34 crore to Rs 2,34,672.03 crore and that of TCS plummeted Rs 11,951.35 crore to Rs 7,62,071.81 crore.

HDFC’s valuation tumbled Rs 11,725.23 crore to Rs 3,22,531.39 crore and that of HUL tanked Rs 9,600.22 crore to Rs 3,83,803.08 crore.

The m-cap of ICICI Bank dived Rs 8,293.27 crore to Rs 2,20,351.47 crore and that of Infosys dropped Rs 7,906.92 crore to Rs 3,24,044.79 crore.

HDFC Bank’s valuation declined Rs 5,998.66 crore to Rs 5,71,599.92 crore and that of Kotak Mahindra Bank dipped Rs 2,207.26 crore to Rs 2,44,943.86 crore.

In contrast, ITC added Rs 4,593.55 crore to Rs 3,42,495.09 crore.

In the ranking of top 10 firms, RIL was at No. 1 position followed by TCS, HDFC Bank, HUL, ITC, Infosys, HDFC, Kotak Mahindra Bank, SBI and ICICI Bank.