Eight of Top 10 Valued Firms Lose Rs 1.57 Lakh Cr in Market Valuation; Infosys, HCL Emerge as Gainers
A cashier checks Indian rupee notes inside a room at a fuel station.(Representative image)
Eight of the top 10 valued firms witnessed a combined erosion of Rs 1,57,277.53 crore in market valuation last week, with Reliance Industries Limited emerging as the biggest laggard. Last week, the Sensex lost 1,457.16 points or 3.83 per cent
Only Infosys and HCL Technologies emerged as gainers among the most valued firms. The market valuation of Reliance Industries Limited tumbled Rs 70,189.95 crore to Rs 14,88,797.82 crore.
Bharti Airtel's market capitalisation tanked Rs 31,096.67 crore to Rs 2,39,880.86 crore and that of ICICI Bank plummeted by Rs 14,752.95 crore to reach Rs 2,40,329.93 crore. The market valuation of HDFC declined by Rs 12,737.66 crore to Rs 2,96,339.09 crore and that of Tata Consultancy Services (TCS) dived Rs 10,675.53 crore to reach Rs 9,08,940.15 crore.
HDFC Bank witnessed an erosion of Rs 7,286.42 crore to Rs 5,74,614.23 crore and Kotak Mahindra Bank Rs 5,710.01 crore to Rs 2,47,292.12 crore. Hindustan Unilever Limited's valuation also dropped by Rs 4,828.34 crore to Rs 4,88,179.05 crore.
In contrast, HCL Technologies Limited, the latest entrant in the coveted list of most valuable companies, added Rs 4,450.79 crore to Rs 2,24,555.79 crore in its m-cap. The valuation of Infosys rose by Rs 3,622.14 crore to Rs 4,30,647.81 crore.
In the list of most valuable firms, RIL was at the number one rank followed by TCS, HDFC Bank, HUL, Infosys, HDFC, Kotak Mahindra Bank, ICICI Bank, Airtel and HCL Technologies.