Seven of the 10 most valued domestic companies witnessed a combined erosion of Rs 1,07,566.64 crore from their market valuation last week, with Reliance Industries accounting for around half of the losses.
Seven of the 10 most valued domestic companies witnessed a combined erosion of Rs 1,07,566.64 crore from their market valuation last week, with Reliance Industries accounting for around half of the losses. Last week, the 30-share BSE benchmark Sensex declined 849.74 points or 1.70 per cent.
Only Tata Consultancy Services (TCS), Hindustan Unilever Limited and HDFC from the top-10 list saw a rise in their market capitalisation. The valuation of index major Reliance Industries Limited (RIL) tumbled Rs 55,565.21 crore to reach Rs 12,64,243.20 crore.
The market capitalisation of Bajaj Finance plunged Rs 16,197.55 crore to Rs 3,12,327.04 crore and that of State Bank of India (SBI) went lower by Rs 12,494.45 crore to Rs 3,18,697.88 crore. Kotak Mahindra Bank’s valuation dipped Rs 11,681.66 crore to Rs 3,51,272.18 crore and that of ICICI Bank declined Rs 5,467.63 crore to Rs 4,00,093.61 crore.
The market capitalisation of Infosys tumbled Rs 3,751.92 crore to Rs 5,69,352.11 crore. HDFC Bank’s valuation eroded by Rs 2,408.22 crore to reach Rs 8,22,616.51 crore. In contrast, Tata Consultancy Services added Rs 1,812.54 crore to take its valuation to Rs 11,34,924.45 crore.
Hindustan Unilever’s valuation climbed Rs 364.19 crore to Rs 5,43,924.22 crore and that of HDFC rose Rs 62.77 crore to Rs 4,56,741.20 crore. In the ranking of top-10 most valued firms, Reliance Industries ruled the chart, followed by TCS, HDFC Bank, Infosys, Hindustan Unilever, HDFC, ICICI Bank, Kotak Mahindra Bank, SBI and Bajaj Finance.