Four Out Of Top 10 Companies Lose Rs 84,433 Crore In Market Cap
Four out of the 10 largest companies in India by market capitalisation saw valuations erode by Rs 84,432.80 crore last week, with the HDFC twins taking the biggest hit.
Reliance Industries Ltd. and State Bank of India were the other large companies that saw their market capitalisation drop in the week to Friday. Tata Consultancy Services Ltd., Hindustan Unilever Ltd., ITC Ltd., Kotak Mahindra Bank Ltd. and ICICI Bank Ltd. ended the week with gains in their valuations. However, the cumulative gain of these firms at Rs 22,058.3 crore was less than the total loss suffered by the four companies.
HDFC Bank Ltd.’s market cap fell Rs 26,900.60 crore to Rs 6,22,401.90 crore, making it the top loser among the Top-10 firms. It was followed by Housing Development Finance Corp. Ltd., whose valuation fell Rs 23,360.6 crore to Rs 3,74,131.53 crore.
Reliance Industries lost Rs 22,123.4 crore in market cap to Rs 7,69,627.33 crore, while SBI's valuation dropped Rs 12,048.2 crore to Rs 3,05,667.95 crore.
In contrast, TCS' market cap rose Rs 11,951.35 crore to Rs 7,91,302.89 crore and that of ICICI Bank gained Rs 3,484.66 crore to Rs 2,68,125.39 crore.
ITC added Rs 2,487.11 crore to its market cap to be valued at Rs 3,31,749.04 crore and Kotak Mahindra Bank gained Rs 2,138.61 crore to Rs 2,88,522.40 crore.
HUL's market cap rose Rs 1,266.41 crore to Rs 3,74,651.29 crore and that of Infosys rose Rs 730.16 crore to Rs 3,38,148.69 crore.
TCS ended the week as India’s most valued firm, followed by Reliance Industries, HDFC Bank, HUL, HDFC, Infosys, ITC, SBI, Kotak Mahindra Bank and ICICI Bank.
During the last week, Sensex lost 454.22 points, or 1.18 percent, to close at 37,882.79 on Friday.