Seven of Top-10 Firms Lose Rs 86,880 Crore in M-cap; ITC Takes Biggest Knock
In a weak broader market, Reliance Industries Ltd (RIL), HDFC Bank, HDFC, Kotak Mahindra Bank, ICICI Bank and SBI were the other firms which witnessed a drop in their market capitalisation.
New Delhi: Seven of the 10 most valued domestic companies cumulatively lost Rs 86,879.7 crore in market valuation last week, with FMCG major ITC taking the biggest hit.
In a weak broader market, Reliance Industries Ltd (RIL), HDFC Bank, HDFC, Kotak Mahindra Bank, ICICI Bank and SBI were the other firms which witnessed a drop in their market capitalisation (m-cap), while TCS, HUL and Infosys finished with gains.
The m-cap of ITC dropped by Rs 20,748.4 crore to stand at Rs 2,89,740.59 crore.
It was followed by SBI whose market cap tumbled Rs 17,715.4 crore to Rs 2,41,946.22 crore.
The m-cap of HDFC Bank tanked Rs 17,335.3 crore to Rs 5,91,490.98 crore and that of ICICI Bank declined by Rs 15,084.5 crore to Rs 2,55,484.91 crore.
HDFC's valuation fell by Rs 9,921.2 crore to Rs 3,52,202.72 crore and that of Kotak Mahindra Bank dipped Rs 5,155.85 crore to Rs 2,81,185.14 crore.
The m-cap of RIL went down by Rs 919.16 crore to Rs 8,08,836 crore.
In contrast, the valuation of TCS zoomed Rs 31,538.79 crore to Rs 8,43,367.22 crore and that of Infosys jumped Rs 11,746.94 crore to Rs 3,44,419.45 crore.
Hindustan Unilever Ltd (HUL) added Rs 7,176.31 crore to its m-cap to reach Rs 4,02,512.28 crore.
In the ranking of top-10 firms, Tata Consultancy Services (TCS) led from the front followed by RIL, HDFC Bank, HUL, HDFC, Infosys, ITC, Kotak Mahindra Bank, ICICI Bank and SBI.
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