Seven of the 10 most valued Indian companies suffered an erosion of Rs 75,684.33 crore from their market valuation last week, with FMCG major HUL taking the steepest hit.
In a weak broader market where the Sensex fell by 255.25 points or 0.66 per cent last week, the top seven blue chip companies, including State Bank of India (SBI), Maruti Suzuki India and ITC witnessed a decline in their market valuation. In the top-10 list, only Reliance Industries Ltd (RIL), TCS and Infosys finished with gains.
The market capitalisation (m-cap) of Hindustan Unilever Ltd (HUL) tumbled Rs 29,449.99 crore to Rs 3,54,774.44 crore. SBI’s valuation plunged Rs 15,171.8 crore to Rs 2,60,464.09 crore and that of Maruti Suzuki India dived Rs 11,016.86 crore to Rs 2,63,792.92 crore. The m-cap of ITC tanked Rs 10,702.43 crore to Rs 3,79,660.86 crore and that of Kotak Mahindra Bank dropped Rs 7,130.61 crore to Rs 2,37,931.73 crore.
Also, HDFC Bank’s valuation went down by Rs 1,194.57 crore to Rs 5,58,693.63 crore and that of HDFC fell by Rs 1,018.07 crore to Rs 3,25,634.13 crore.
On the other hand, the market cap of RIL soared Rs 22,784.32 crore to Rs 8,09,254.98 crore. Infosys added Rs 5,734.99 crore to its m-cap to reach Rs 3,20,258.56 crore and TCS gained Rs 574.29 crore to Rs 7,96,228.78 crore. In the ranking of top-10 firms, RIL stood at number one position followed by Tata Consultancy Services (TCS), HDFC Bank, ITC, HUL, HDFC, Infosys, Maruti, SBI and Kotak Mahindra Bank.