Nine of 10 most valued firms take over Rs 3.96 lakh crore hit in market cap
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The combined market valuation of nine of the top 10 valued domestic companies eroded by a whopping Rs 3,96,629.40 crore last week in tandem with a weak broader market, where Reliance Industries Limited (RIL) took the biggest hit.
In the last week, the 30-share BSE benchmark tumbled 2,592.77 points or 5.30 percent due to profit-booking ahead of the Union Budget.
Only ICICI Bank managed to witness addition in its market valuation the holiday-truncated last week. Its valuation rose by Rs 2,397.43 crore to Rs 3,70,773.35 crore.
Reliance Industries accounted for the lion's share of the total loss. Its valuation tumbled Rs 1,30,909.45 crore to reach Rs 11,68,454.02 crore.
The market capitalisation of Tata Consultancy Services (TCS) tanked Rs 71,482.92 crore to Rs 11,68,079.84 crore and that of Infosys plunged Rs 42,936.43 crore to Rs 5,28,040.02 crore.
TCS had on Monday surpassed RIL to become the country's most valued firm by market capitalisation. But on Friday RIL once again went past TCS to take the coveted title.
HDFC's valuation declined Rs 38,083.07 crore to Rs 4,28,040.72 crore and that of Hindustan Unilever Limited dived Rs 34,150.8 crore to Rs 5,31,798.56 crore. The market capitalisation of HDFC Bank eroded by Rs 28,894.3 crore to Rs 7,66,218.59 crore and of Kotak Mahindra Bank dipped by Rs 23,320.13 crore to Rs 3,39,345.13 crore.
The valuation of Bajaj Finance declined by Rs 13,949.9 crore to Rs 2,85,382.35 crore and that of Bharti Airtel by Rs 12,902.4 crore to Rs 3,01,801.43 crore. In the ranking of top-10 companies, Reliance Industries was leading the chart followed by TCS, HDFC Bank, Hindustan Unilever Limited, Infosys, HDFC, ICICI Bank, Kotak Mahindra Bank, Bharti Airtel and Bajaj Finance.
