Six of the top-10 most valued firms suffered a combined erosion of Rs 2,00,280.75 crore from market valuation last week, with IT majors Tata Consultancy Services (TCS) and Infosys taking the biggest hit, amid weak trend in equities. Last week, the Sensex fell 952.35 points or 1.59 per cent.
While Reliance Industries, TCS, HDFC Bank, Hindustan Unilever, Infosys and HDFC suffered erosion from their valuation, ICICI Bank, State Bank of India, Adani Transmission and Bajaj Finance were the gainers. The market valuation of TCS tanked Rs 76,346.11 crore to Rs 11,00,880.49 crore.
Infosys lost Rs 55,831.53 crore from its valuation which remained at Rs 5,80,312.32 crore. The market capitalisation (mcap) of Reliance Industries declined by Rs 46,852.27 crore to Rs 16,90,865.41 crore and that of Hindustan Unilever fell by Rs 14,015.31 crore to Rs 5,94,058.91 crore.
HDFC’s valuation dipped Rs 4,620.81 crore to Rs 4,36,880.78 crore and that of HDFC Bank went lower by Rs 2,614.72 crore to Rs 8,31,239.46 crore. From the gainers pack, Adani Transmission added Rs 17,719.6 crore taking its valuation to Rs 4,56,292.28 crore. State Bank of India’s mcap jumped Rs 7,273.55 crore to Rs 5,01,206.19 crore.
The valuation of Bajaj Finance climbed Rs 6,435.71 crore to Rs 4,41,348.83 crore and that of ICICI Bank advanced Rs 5,286.92 crore to Rs 6,33,110.48 crore.In the ranking of most valued firms, Reliance Industries was leading the pack, followed by TCS, HDFC Bank, ICICI Bank, Hindustan Unilever, Infosys, State Bank of India, Adani Transmission, Bajaj Finance and HDFC.