Four of the 10 most valued Indian companies witnessed a combined erosion of Rs 36,771.7 crore from their market valuation last week, with ITC and TCS taking the biggest knock.
Four of the 10 most valued Indian companies witnessed a combined erosion of Rs 36,771.7 crore from their market valuation last week, with ITC and TCS taking the biggest knock. While TCS, ITC, Infosys and ONGC suffered losses, RIL, HDFC Bank, HDFC, HUL, SBI and Maruti saw rise in their market capitalization (m-cap) for the week ended Friday. The cumulative gain of these companies, which stood at Rs 29,857.7 crore, was less than the total loss suffered by the four firms. ITC’s valuation plummeted by Rs 15,730.86 crore to Rs 3,71,952.87 crore, emerging as the worst hit among the top-10 entities. The m-cap of TCS slumped by Rs 10,167.41 crore to Rs 4,94,626.67 crore and that of ONGC dived Rs 6,095.79 crore to Rs 2,17,074.17 crore. Also, Infosys saw its valuation decline by Rs 4,777.64 crore to Rs 2,17,899.66 crore.
From the gainers, Maruti stole the show as its m-cap surged Rs 10,172.54 crore to Rs 2,25,079.85 crore. HDFC Bank’s valuation jumped Rs 7,989.03 crore to Rs 4,28,196.33 crore and that of HDFC rose by Rs 5,523.07 crore to Rs 2,61,427.88 crore. RIL added Rs 3,495.3 crore to Rs 4,34,229.09 crore in its m-cap and HUL gained Rs 1,785.68 crore at Rs 2,37,051.88 crore. The valuation of SBI went up by Rs 892.08 crore to Rs 2,33,969.38 crore. In the ranking of top-10 firms, TCS maintained the numero-uno position followed by RIL, HDFC Bank, ITC, HDFC, HUL, SBI, Maruti, Infosys and ONGC.
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Maruti Suzuki had zipped past Infosys and ONGC in m-cap ranking on Friday. Both the BSE and NSE indices recorded their first weekly fall in five weeks by losing 11.23 points, or 0.03 per cent and 14.75 points, or 0.15 per cent, respectively.