Seven of top-10 firms lose INR 86,880 cr. in m-cap
New Delhi, Aug. 25 (PTI): Seven of the 10 most valued domestic companies cumulatively lost INR 86,879.7 crore in market valuation last week, with FMCG major ITC taking the biggest hit.
In a weak broader market, Reliance Industries Ltd (RIL), HDFC Bank, HDFC, Kotak Mahindra Bank, ICICI Bank and SBI were the other firms which witnessed a drop in their market capitalisation (m-cap), while TCS, HUL and Infosys finished with gains.
The m-cap of ITC dropped by INR 20,748.4 crore to stand at INR 2,89,740.59 crore.
It was followed by SBI whose market cap tumbled INR 17,715.4 crore to INR 2,41,946.22 crore.
The m-cap of HDFC Bank tanked INR 17,335.3 crore to INR 5,91,490.98 crore and that of ICICI Bank declined by INR 15,084.5 crore to INR 2,55,484.91 crore.
HDFC’s valuation fell by INR 9,921.2 crore to INR 3,52,202.72 crore and that of Kotak Mahindra Bank dipped INR 5,155.85 crore to INR 2,81,185.14 crore.
The m-cap of RIL went down by INR 919.16 crore to INR 8,08,836 crore.
In contrast, the valuation of TCS zoomed INR 31,538.79 crore to INR 8,43,367.22 crore and that of Infosys jumped INR 11,746.94 crore to INR 3,44,419.45 crore.
Hindustan Unilever Ltd (HUL) added INR 7,176.31 crore to its m-cap to reach INR 4,02,512.28 crore.
In the ranking of top-10 firms, Tata Consultancy Services (TCS) led from the front followed by RIL, HDFC Bank, HUL, HDFC, Infosys, ITC, Kotak Mahindra Bank, ICICI Bank and SBI.