Financials News

PNB, SBI, HDFC, ITC, ONGC, TCS lose mcap worth Rs 26,600 crore last week

PNB, SBI, HDFC, ITC, ONGC, TCS lose mcap worth Rs 26,600 crore last week

Mumbai: It’s no secret that bad loans result in becoming non performing assets (NPAs), and put pressure on the banks. The NPAs in Indian market along with Nirav Modi scam, worth $ 2 million slumping down the economy. However, besides banking, other stocks had also shown loss trends in the past week.

The last five sessions have resulted in a loss of 95.21 points on a BSE Sensex. When SBI incurred a loss of 11,694.44 to 2.26 lakh crores, other ventures such as TCS, ITC, ONGC, and HDFC also witnessed heavy business declines. TCS lost 7618.87 crores to 5.81 crores.

If talk about ITC, 6535 crores to 3.21 lakh crores were shed by the company. ONGC dropped 577.50 crores to end 2.43 lakh crores, while HDFC bank saw an m-cap dip by 212.98 crores to 4.87 lakh crores. The Nifty PSU data showed fall of 8.74% in a year. The major loss bearers were Union Bank, Allahabad Bank, and Oriental Bank of Commerce.

The only bank to get a gain has been the IDBI in past one year, with a monthly gain of 32.29%.