ITC, 8 others take hit of Rs 57,065 crore in market valuation
Bombay Stock Exchange (BSE) headquarters in Mumbai, Maharashtra, India. Image Source: Reuters
Combined market valuation (m-cap) of 9 of the top 10 most valued Indian companies plummeted by Rs 57,065.11 crore last week, with ITC taking the sharpest hit.
Barring TCS, the rest including Reliance Industries Ltd (RIL), HDFC Bank, Infosys and HDFC suffered losses in their market capitalisation for the week ended on Friday.
ITC's valuation plunged by Rs 14,883.32 crore to Rs 2,92,281.77 crore.
The m-cap of HDFC Bank slumped Rs 10,117.75 crore to Rs 3,23,728.24 crore and that of Hindustan Unilever (HUL) declined by Rs 9,198.16 crore to Rs 1,87,815.76 crore.
RIL's valuation tanked Rs 6,761.87 crore to Rs 3,50,936.37 crore and that of HDFC diminished by Rs 4,939.04 crore to Rs 2,20,655.98 crore.
The market cap of Coal India Ltd (CIL) dipped by Rs 3,916.15 crore to Rs 2,03,734.33 crore and ONGC lost Rs 3,251.09 crore to Rs 2,19,619.43 crore.
Similar was the case with State Bank of India (SBI) which saw an erosion of Rs 2,872.23 crore to Rs 1,94,612.82 crore and Infosys too suffered a loss of Rs 1,125.5 crore to Rs 2,38,445.83 crore.
On the other hand, Tata Consultance Services (TCS) added Rs 5,891.58 crore to Rs 4,78,262.27 crore in its m-cap.
In terms of ranking, TCS stood at number one position followed by RIL, HDFC Bank, ITC, Infosys, HDFC, ONGC, CIL, SBI and HUL.
Over the past week, the BSE benchmark Sensex ended at 27,865.96, a heavy loss of 802.26 points or 2.80%.