Top-9 Cos Incur Rs 2-Trn Mcap Loss

New Delhi: Nine of the top-10 most valued firms together lost a whopping Rs2,09,952.26 crore from market valuation last week, in line with weak trends in equities, with Hindustan Unilever (HUL) and Reliance Industries Ltd (RIL) taking the biggest hit.

Last week, the BSE benchmark tanked 1,822.46 points or 2.24 per cent. “The dismal Q2 earnings so far have aggravated the investors’ woes while persistent FII selling continued to create havoc in the market,” said Prashanth Tapse, senior V-P (research), Mehta Equities Ltd.

From the top-10 pack, HDFC Bank emerged as the only winner. The market valuation of Hindustan Unilever eroded by Rs44,195.81 crore to Rs5,93,870.94 crore. Reliance Industries’ valuation tumbled Rs41,994.54 crore to Rs17,96,726.60 crore. State Bank of India’s market valuation plummeted by Rs35,117.72 crore to Rs6,96,655.84 crore, and that of Bharti Airtel tanked by Rs24,108.72 crore to Rs9,47,598.89 crore. The market capitalisation (mcap) of Tata Consultancy Services (TCS) dropped by Rs23,137.67 crore to Rs14,68,183.73 crore. The valuation of Life Insurance Corporation of India (LIC) diminished by Rs19,797.24 crore to Rs5,71,621.67 crore, and that of Infosys declined by Rs10,629.49 crore to Rs7,69,496.61 crore. ITC’s mcap fell by Rs5,690.96 crore to Rs6,02,991.33 crore, and that of ICICI Bank went lower by Rs5,280.11 crore to Rs8,84,911.27 crore. However, the mcap of HDFC Bank jumped Rs46,891.13 crore to Rs13,29,739.43 crore. Reliance Industries retained the title of the most valued firm, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, ITC, Hindustan Unilever and LIC.