Reliance leads 9 of 10 most valued firms to lose Rs 1.63 lakh cr in market valuation

By: |
November 1, 2020 11:52 AM

Another heavyweight HDFC Bank's valuation diminished by Rs 28,574.61 crore to reach Rs 6,51,518.11 crore, followed by Infosys whose m-cap fell by Rs 26,152.79 crore to Rs 4,51,753.23 crore.

The life insurer with asset under management of Rs 21,912 crore at the end of September had posted a profit of Rs 35 crore during 2019-20.The life insurer with asset under management of Rs 21,912 crore at the end of September had posted a profit of Rs 35 crore during 2019-20.

Nine of the top 10 most valued companies witnessed a combined erosion of Rs 1,63,510.28 crore in market valuation last week, with Reliance Industries emerging as the biggest laggard.

The BSE benchmark index Sensex had tumbled by 1,071.43 points or 2.63 per cent during the week.

Barring Kotak Mahindra Bank, whose market capitalisation (m-cap) rose by Rs 32,570.94 crore to Rs 3,06,331.09 crore, other nine firms among the top 10 saw depletion in their market worth.

Reliance Industries Ltd’s (RIL), the most valued firm, valuation tanked by Rs 39,355.06 crore to Rs 13,89,159.20 crore.

Another heavyweight HDFC Bank’s valuation diminished by Rs 28,574.61 crore to reach Rs 6,51,518.11 crore, followed by Infosys whose m-cap fell by Rs 26,152.79 crore to Rs 4,51,753.23 crore.

HDFC’s worth declined by Rs 24,844.93 crore to Rs 3,45,287.89 crore, Hindustan Unilever Ltd’s m-cap dipped by Rs 16,858.07 crore to Rs 4,86,898.54 crore, ICICI Bank’s valuation eroded by Rs 16,754.64 crore to Rs 2,70,736.06 crore and Tata Consultancy Services (TCS) market value tumbled by Rs 8,105.15 crore to Rs 9,99,954.24 crore.

The valuation of HCL Technologies declined by Rs 2,455.87 crore to Rs 2,28,816.24 crore and that of Bharti Airtel dipped by Rs 409.16 crore to Rs 2,36,552.97 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.

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