HDFC Bank’s Market Cap Falls Rs 30,000 Crore, TCS’ Rises Rs 8,200 Crore
Seven of India’s Top 10 listed companies lost a total of more than Rs 1 lakh crore in market capitalisation in the week to Oct. 4, with HDFC Bank Ltd. taking the biggest hit.
Other whose market cap dwindled are Reliance Industries Ltd., Hindustan Unilever Ltd., Housing Development Finance Corporation Ltd., Kotak Mahindra Bank Ltd., ICICI Bank Ltd. and Bajaj Finance Ltd.
On the flipside, Tata Consultancy Services Ltd., Infosys Ltd. and ITC Ltd. saw rise in their market valuation for the week ended Friday.
HDFC Bank’s market cap dropped Rs 30,198.62 crore to Rs 6,50,446.47 crore, while ICICI Bank’s slid Rs 22,866.93 crore to Rs 2,67,265.32 crore. Kotak Mahindra Bank tumbled by Rs 15,624.6 crore to Rs 2,98,413.27 crore.
HUL's market cap fell by Rs 14,287.76 crore to Rs 4,20,774.52 crore. HDFC lost Rs 10,178.84 crore of its valuation to Rs 3,41,349.33 crore. Bajaj Finance fell Rs 9,437.91 crore to Rs 2,26,309.37 crore. Reliance Industries was valued Rs 824.08 crore lower at Rs 8,28,808.67 crore.
In contrast, TCS' market cap rose Rs 8,236.49 crore to Rs 7,79,989.45 crore and that of Infosys rose Rs 4,681.59 crore to Rs 3,40,704.24 crore. The market cap of ITC advanced Rs 5,344.62 crore to Rs 3,16,069.96 crore.
In terms of ranking of Top 10 listed companies in India , RIL remained India’s valuable firm by market cap. It was followed by TCS, HDFC Bank, HUL, HDFC, Infosys, ITC, Kotak Mahindra Bank, ICICI Bank and Bajaj Finance.
State Bank of India has fallen out the rankings.
In the week to Friday, the S&P BSE Sensex index fell 2.96 percent to end at 37,673.31 and the NSE Nifty 50 index declined 2.93 percent to 11,174.75.