Top 4 BSE companies lose Rs36,772 crore in market valuation, ITC worst hit
- Defection of MNS corporators to Shiv Sena shakes up Maharashtra’s politics
- SC cracker ban brought respite, but a lot needs to be done
- Can blockchain technology be an answer to India’s land governance woes?
- Can see bright Samvat 2074 ahead: Ramesh Damani
- Mutual funds trim metals, retail holdings, tank up on financial stocks in September
New Delhi: Four of the 10 most valued Indian companies witnessed a combined erosion of Rs36,771.7 crore from their market valuation last week, with ITC and Tata Consultancy Services (TCS) taking the biggest knock.
While TCS, ITC, Infosys and Oil and Natural Gas Corp (ONGC) suffered losses, Reliance Industries Ltd (RIL), HDFC Bank, HDFC, Hindustan Unilever Ltd (HUL), State Bank of India (SBI) and Maruti saw rise in their market capitalization for the week ended 9 June. The cumulative gain of these companies, which stood at Rs29,857.7 crore, was less than the total loss suffered by the four firms.
ITC’s valuation plummeted by Rs15,730.86 crore to Rs3,71,952.87 crore, emerging as the worst hit among the top-10 entities. The m-cap of TCS slumped by Rs10,167.41 crore to Rs4,94,626.67 crore and that of ONGC dived Rs6,095.79 crore to Rs2,17,074.17 crore. Also, Infosys saw its valuation decline by Rs4,777.64 crore to Rs2,17,899.66 crore.
From the gainers, Maruti stole the show as its m-cap surged Rs10,172.54 crore to Rs2,25,079.85 crore. HDFC Bank’s valuation jumped Rs7,989.03 crore to Rs4,28,196.33 crore and that of HDFC rose by Rs5,523.07 crore to Rs2,61,427.88 crore. RIL added Rs3,495.3 crore to Rs4,34,229.09 crore in its m-cap and HUL gained Rs1,785.68 crore at Rs2,37,051.88 crore. The valuation of SBI went up by Rs892.08 crore to Rs2,33,969.38 crore.
In the ranking of top-10 firms, TCS maintained the numero-uno position followed by RIL, HDFC Bank, ITC, HDFC, HUL, SBI, Maruti, Infosys and ONGC. Maruti Suzuki had zipped past Infosys and ONGC in m-cap ranking on 9 June. Both the BSE and the National Stock Exchange recorded their first weekly fall in five weeks by losing 11.23 points, or 0.03% and 14.75 points, or 0.15%, respectively.