New Delhi: Eight of the 10 most valued Indian companies together suffered an erosion of ₹ 41,660 crore in their market valuation last week, with Mukesh Ambani-led Reliance Industries (RIL) alone accounting for over ₹ 15,000 crore.
Only HDFC and Infosys added to their market capitalisation (m-cap) in the week ended Friday.
The valuation of RIL plunged by ₹ 15,180.46 crore to ₹ 7,94,074.52 crore, while that of Tata Consultancy Services (TCS) dipped by ₹ 6,278.86 crore to ₹ 7,89,949.92 crore. HDFC Bank’s m-cap dropped ₹ 7,778.30 crore to ₹ 5,50,915.33 crore. The valuation of ITC dived ₹ 4,219.81 crore to ₹ 3,75,441.05 crore.
FMCG major Hindustan Unilever (HUL) saw its valuation slump by ₹ 1,904.89 crore to ₹ 3,52,869.55 crore, while Maruti Suzuki India tanked by ₹ 3,011.74 crore to Rs2,60,781.18 crore.
Public sector lender State Bank of India (SBI) witnessed a fall of ₹ 1,294.07 crore in its valuation to ₹ 2,59,170.02 crore and Kotak Bank saw an erosion of ₹ 1,992.38 crore from its m-cap to ₹ 2,35,939.35 crore.
On the contrary, HDFC’s m-cap rose by ₹ 238.24 crore to ₹ 3,25,872.37 crore and technology giant Infosys’ valuation surged by ₹ 904.96 crore to ₹ 3,21,163.52 crore.
In the ranking of top-10 firms, RIL stood at number one position followed by TCS, HDFC Bank, ITC, HUL, HDFC, Infosys, Maruti, SBI and Kotak Mahindra Bank. Benchmark Sensex lost some 300 points or 0.77% during the week.