Three of top 10 Indian firms lose ₹1 trillion in m-cap, TCS worst hit
TCS market valuation nosedived by ₹85,330.17 crore ₹7,19,857.48 crore. Reliance Industries emerged as the biggest winner as its m-cap soared by ₹48,524.59 crore to ₹7,13,965.75 crore
New Delhi: Three of the 10 most valued Indian companies together witnessed an erosion of ₹1,07,026.12 crore in market capitalisation last week, with IT major TCS taking the biggest knock.
Tata Consultancy Services (TCS), ITC and Infosys suffered a decline in their valuation for the week ended on Friday, whereas RIL, HDFC Bank, Hindustan Unilever Ltd (HUL), HDFC, SBI, Kotak Mahindra Bank and Maruti Suzuki India finished with gains.
The cumulative erosion suffered by the three companies was higher than the combined gain of ₹97,498.38 crore made by the rest of the seven firms.
The valuation of TCS nosedived by ₹85,330.17 crore ₹7,19,857.48 crore.
Shares of TCS Friday ended over 3% lower even as the company reported a 22.6% jump in consolidated net profit for the July-September quarter.
The m-cap of Infosys slumped ₹18,696.68 crore to ₹2,96,635.05 crore and that of ITC fell by ₹2,999.27 crore to ₹3,36,285.40 crore.
From the gainers side, Reliance Industries Ltd (RIL) emerged as the biggest winner as its market cap soared by ₹48,524.59 crore to ₹7,13,965.75 crore.
Kotak Mahindra Bank’s valuation jumped ₹22,130.78 crore to ₹2,23,005.06 crore and that of Maruti surged ₹11,782.63 crore to ₹2,20,006.42 crore.
The m-cap of State Bank of India (SBI) zoomed ₹4,953.14 crore to ₹2,35,029.01 crore and that of HDFC Bank rose by ₹4,388.24 crore to ₹5,37,729.17 crore.
HDFC added ₹3,727.52 crore to reach ₹2,94,247.71 crore in market valuation and HUL gained ₹1,991.48 crore to ₹3,39,557.66 crore.
Over the last week, the Sensex climbed 366.59 points to close at 34,733.58 on Friday.
In the ranking of the top-10 firms, TCS was at the number one position, followed by RIL, HDFC Bank, HUL, ITC, Infosys, HDFC, SBI, Kotak Mahindra Bank and Maruti.
(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed)
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