Financials News

Eight of 10 most valued companies lose Rs 54,539 crore in mcap

Eight of 10 most valued companies lose Rs 54,539 crore in mcap

New Delhi: The combined market valuation of eight of the 10 most valued Indian companies plummeted by Rs 54,539.2 crore last week, with Reliance Industries Ltd (RIL) taking the steepest hit.

Barring Tata Consultancy Services (TCS) and HDFC, rest eight companies including HDFC Bank, ITC and HUL suffered losses in their market capitalisation (m-cap) for the week ended Friday.

RIL’s valuation slumped by Rs 30,897.71 crore to Rs 5,17,686.07 crore.

The m-cap of State Bank of India (SBI) tumbled by Rs 8,761.53 crore to Rs 2,26,073.40 crore while that of HDFC Bank tanked by Rs 6,272.79 crore to Rs 4,70,988.04 crore.

ONGC’s valuation dropped Rs 3,144.15 crore to Rs 2,11,042.55 crore and that of Infosys slipped by Rs 2,422.98 crore to Rs 2,06,279.56 crore.

The market cap of ITC dipped Rs 1,339.83 crore to Rs 3,26,736.72 crore and that of Hindustan Unilever Ltd (HUL) fell by Rs 1,287.87 crore to Rs 2,68,297.84 crore.

Maruti Suzuki India’s valuation also dipped by Rs 412.34 crore to Rs 2,43,916.05 crore.

On the other hand, HDFC gained Rs 2,030.43 crore to Rs 2,84,204.36 crore and TCS Rs 727.43 crore to Rs 4,79,021.76 crore.

RIL continued to remain on the top in the domestic m-cap chart followed by TCS, HDFC Bank, ITC, HDFC, HUL, Maruti, SBI, ONGC and Infosys.

Over the last week, the BSE benchmark index recorded a hefty fall of 350.17 points, or 1.08 per cent, the biggest since August 11. The NSE Nifty, too, ended lower by 121 points, or 1.19 per cent.

PTI