The combined market valuation of nine of the top 10 most valued Indian companies plummeted by Rs 1,05,357 crore last week, with RIL and SBI emerging as the worst hit.
The combined market valuation of nine of the top 10 most valued Indian companies plummeted by Rs 1,05,357 crore last week, with RIL and SBI emerging as the worst hit.Last week, the Sensex and Nifty plunged 1,111.82 points, or 3.43 per cent, and 355.60 points, or 3.53 per cent, respectively. Only Infosys saw a rise in its market capitalization (m- cap), rest nine firms, including TCS, HDFC Bank, ITC and HDFC suffered losses for the week ended Friday. The m-cap of Reliance Industries Ltd (RIL) plunged Rs 24,671.41 crore to Rs 5,02,922.78 crore.
SBI’s valuation tumbled Rs 21,407.49 crore to Rs 2,42,258.49 crore and that of ITC tanked Rs 10,882.6 crore to Rs 3,30,560.46 crore. The m-cap of HDFC Bank dived Rs 10,274.83 crore to Rs 4,50,997.65 crore and that of Maruti Suzuki India slumped Rs 9,843.28 crore to Rs 2,25,135.74 crore. The valuation of Hindustan Unilever Ltd (HUL) dropped by Rs 8,452.24 crore to Rs 2,49,530.29 crore and ONGC lost Rs 8,149.1 crore to Rs 2,05,588.43 crore.
The market cap of HDFC slipped Rs 6,172.46 crore to Rs 2,69,860.07 crore and that of Tata Consultancy Services (TCS) declined by Rs 5,503.57 crore to Rs 4,77,423.33 crore.Infosys, however, added Rs 551.27 crore to Rs 2,26,880.71 crore in its m-cap. In the ranking of top-10 firms, RIL stood at number one position followed by TCS, HDFC Bank, ITC, HDFC, HUL, State Bank of India (SBI), Infosys, Maruti, and ONGC.