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Four of top-10 companies lose Rs 84,433 crore in m-cap

HDFC twins have been hit hard along with Reliance Industries and SBI which suffered a drop in their market capitalisation.

Published: 28th July 2019 11:18 AM  |   Last Updated: 28th July 2019 11:18 AM   |  A+A-

HDFC

HDFC (File Photo | Reuters)

By PTI

NEW DELHI: Four of the 10 most valued domestic companies together witnessed an erosion of Rs 84,432.8 crore in market capitalisation last week, with HDFC twins taking the biggest hit.

RIL and SBI were the other frontline companies that suffered a drop in their market capitalisation (m-cap) for the week ended Friday, while Tata Consultancy Services (TCS), HUL, Infosys, ITC, Kotak Mahindra Bank and ICICI Bank finished with gains.

However, the cumulative gain of these firms at Rs 22,058.3 crore was less than the total loss suffered by the four companies. The m-cap of HDFC Bank plunged Rs 26,900.6 crore to Rs 6,22,401.90 crore, making it the top loser among the top-10 firms.

It was followed by HDFC, whose valuation tumbled Rs 23,360.6 crore to Rs 3,74,131.53 crore. Reliance Industries Limited (RIL) lost Rs 22,123.4 crore in m-cap to stand at Rs 7,69,627. 33 crore, while SBI's valuation dropped Rs 12,048.2 crore to Rs 3,05,667.95 crore.

In contrast, the market cap of TCS jumped Rs 11,951.35 crore to Rs 7,91,302.89 crore and that of ICICI Bank zoomed Rs 3,484.66 crore to Rs 2,68,125.39 crore. ITC added Rs 2,487.11 crore to its valuation to reach Rs 3,31,749.04 crore and Kotak Mahindra Bank gained Rs 2,138.61 crore to Rs 2,88,522.40 crore.

The valuation of Hindustan Unilever Limited (HUL) climbed by Rs 1,266.41 crore to Rs 3,74,651.29 crore and that of Infosys rose Rs 730.16 crore to Rs 3,38,148.69 crore.

In the ranking of top-10 firms, TCS closed the week with number one ranking, followed by RIL, HDFC Bank, HUL, HDFC, Infosys, ITC, SBI, Kotak Mahindra Bank and ICICI Bank.

TCS on Thursday went past Reliance Industries Limited to become the country's most valued firm by market valuation yet again. During the last week, the Sensex lost 454.22 points or 1.18 per cent to close at 37,882.79 on Friday.

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