Nine Of Top 10 Most Valued Firms Lose Rs 1.63 Lakh Crore In Market Cap
Nine of the top 10 most valued companies witnessed a combined erosion of Rs 1.63 lakh crore in market valuation last week, with Reliance Industries Ltd. emerging as the biggest laggard.
The BSE benchmark index Sensex had tumbled by 1,071.43 points or 2.63% during the week.
Barring Kotak Mahindra Bank Ltd., whose market capitalisation rose by Rs 32,570.94 crore to Rs 3.06 lakh crore, other nine firms among the top 10 saw depletion in their market worth.
Reliance Industries, the most valued firm, saw valuation tank by Rs 39,355.06 crore to Rs 13.89 lakh crore.
Another heavyweight HDFC Bank Ltd.'s valuation diminished by Rs 28,574.61 crore to reach Rs 6.51 lakh crore, followed by Infosys Ltd. whose market cap fell by Rs 26,152.79 crore to Rs 4.51 lakh crore.
HDFC Ltd.'s worth declined by Rs 24,844.93 crore to Rs 3.45 lakh crore, Hindustan Unilever Ltd.'s valuation dipped by Rs 16,858.07 crore to Rs 4.86 lakh crore, ICICI Bank Ltd.'s valuation eroded by Rs 16,754.64 crore to Rs 2.7 lakh crore and Tata Consultancy Services Ltd.'s market value tumbled by Rs 8,105.15 crore to Rs 9.99 lakh crore.
The valuation of HCL Technologies Ltd. declined by Rs 2,455.87 crore to Rs 2.28 lakh crore and that of Bharti Airtel Ltd. dipped by Rs 409.16 crore to Rs 2.36 lakh crore.
In the ranking of top 10 firms, RIL topped the chart followed by TCS, HDFC Bank, HUL, Infosys, HDFC, Kotak Mahindra Bank, ICICI Bank, Airtel and HCL Technologies.