Nine of top 10 firms lose Rs 84,354 crore in market

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Nine of the 10 most valued Indian companies suffered a combined loss of Rs 84,354.1 crore in their market valuation last week mainly dragged down by Tata Consultancy Services (TCS).

During the holiday-curtailed week, the BSE Sensex lost 231.58 points.

Reliance Industries Ltd (RIL) was the only firm among the top 10 companies to post a gain in its market valuation.

The market capitalisation (m-cap) of RIL zoomed Rs 72,153.08 crore to Rs 8,09,755.16 crore at close on Friday after the announcement of a host of investor-friendly proposals at its annual general meeting early last week.

TCS, HDFC Bank, Hindustan Unilever Limited (HUL), HDFC, Infosys, ITC, Kotak Mahindra Bank, ICICI Bank and SBI closed the week with losses.

The m-cap of TCS tanked Rs 30,807.1 crore to Rs 8,11,828.43 crore for the week ended Friday.

HDFC's valuation tumbled Rs 19,495.4 crore to Rs 3,62,123.92 crore and that of HDFC Bank by Rs 15,065.8 crore to Rs 6,08,826.25 crore.

Infosys' m-cap eroded by Rs 6,700.27 crore to Rs 3,32,672.51 crore and that of Kotak Mahindra Bank declined Rs 6,525.48 crore to Rs 2,86,340.99 crore.

HUL's m-cap fell by Rs 2,954.95 crore to Rs 3,95,335.97 crore and that of ITC dipped Rs 1,657.41 crore to Rs 3,10,488.97 crore.

The valuation of ICICI Bank fell by Rs 790.71 crore to Rs 2,70,569.37 crore and that of SBI went lower by Rs 356.99 crore to Rs 2,59,661.57 crore.

In the ranking of top-10 firms, TCS remained at the number one position followed by RIL, HDFC Bank, HUL, HDFC, Infosys, ITC, Kotak Mahindra Bank, ICICI Bank and SBI.

Source: MC