Seven of top 10 most valued firms lose ₹59,260 cr in cumulative market valuation1 min read . Updated: 20 Sep 2020, 12:52 PM IST
- The seven firms clocking losses in their market capitalisation (m-cap) were Hindustan Unilever (HUL), HDFC Bank, Kotak Mahindra Bank, Reliance Industries, HDFC, ITC and ICICI Bank
NEW DELHI : Seven of the top 10 most valued domestic companies saw a combined erosion of ₹59,259.58 crore in their market valuation last week, with Hindustan Unilever, HDFC Bank and Kotak Mahindra Bank emerging as major laggards.
The seven firms clocking losses in their market capitalisation (m-cap) were Hindustan Unilever (HUL), HDFC Bank, Kotak Mahindra Bank, Reliance Industries, HDFC, ITC and ICICI Bank.
In contrast, Tata Consultancy Services (TCS), Infosys and Bharti Airtel saw gains in their valuation for the trading week closed on Friday.
HUL's m-cap plummeted ₹14,320.54 crore to ₹4,93,007.39 crore, HDFC Bank's valuation tumbled ₹11,611.6 crore to ₹5,81,900.65 crore and Kotak Mahindra Bank's market worth tanked ₹10,205.11 crore to ₹2,53,002.13 crore.
The market cap of RIL eroded by ₹9,027.32 crore to ₹15,58,987.77 crore and that of HDFC declined ₹8,144.93 crore to ₹3,09,076.75 crore.
ITC's valuation fell by ₹5,783.23 crore to ₹2,20,500.76 crore and ICICI Bank's m-cap dipped ₹166.85 crore to ₹2,55,082.88 crore.
On the other hand, TCS added ₹28,912.12 crore to take its valuation to ₹9,19,615.68 crore.
Tata Consultancy Services on Monday became the second Indian company to attain a market valuation of ₹9 lakh crore after Reliance Industries.
The valuation of Infosys jumped by ₹24,342.45 crore to ₹4,27,025.67 crore and that of Bharti Airtel rose by ₹2,755.05 crore to ₹2,70,977.53 crore.
In the ranking of top 10 companies in terms of m-cap, RIL was ruling the chart followed by TCS, HDFC Bank, HUL, Infosys, HDFC, Bharti Airtel, ICICI Bank, Kotak Mahindra Bank and ITC.
During the last week, the BSE benchmark Sensex dropped 8.73 points or 0.02 per cent.