Four of top-10 firms lose INR 55,682 crore in m-cap; TCS, HUL worst hit

New Delhi, Nov 10 (PTI): Four of the top-10 most valued companies suffered a combined erosion of INR 55,681.8 crore in market valuation last week, with Tata Consultancy Services and HUL taking the sharpest hit. Reliance Industries Limited (RIL) and ITC were the other frontline companies that suffered a drop in their market capitalisation (m-cap) for the week ended Friday, while ICICI Bank, HDFC Ltd, HDFC Bank, Infosys, Kotak Mahindra Bank and SBI were on the gainers side. However, the cumulative gain by these companies, which was at INR 54,875.04 crore, was less than the total loss by the four firms. The valuation of TCS tumbled INR 26,900.6 crore to INR 6,22,401.90 crore, making it the top loser among the pack. It was followed by Hindustan Unilever Limited (HUL), whose m-cap valuation plunged INR 20,230.2 crore to INR4,51,633.92 crore. Reliance Industries Limited (RIL) lost INR 7,383.37 crore crore in m-cap to stand at INR 9,16,230.34 crore, while ITC’s valuation dropped INR 1,013.61 crore to INR 3,20,032.38 crore. In contrast, the market cap of ICICI Bank rallied INR 17,760.52 crore to reach INR 3,16,295.56 crore. HDFC Ltd’s valuation zoomed INR 17,594.97 crore to INR 3,85,129.55 crore and that of HDFC Bank jumped INR 7,854.78 crore to INR 6,86,786.97 crore. Infosys added INR 5,747.24 crore to INR 3,04,282.28 crore in its m-cap and Kotak Mahindra Bank witnessed a rise of INR 3,820.24 crore to INR 3,05,657.59 crore. The market valuation of State Bank of India (SBI) went up by INR 2,097.29 crore to INR 2,81,883.86 crore. In the list of top-10 firms, RIL was at the numero-uno place followed by TCS, HDFC Bank, HUL, HDFC, ITC, ICICI Bank, Kotak Mahindra Bank, Infosys and SBI. During the last week, the Sensex advanced 158.58 points or 0.39%.