A weak broader market pulled down the combined market valuation of the top 10 most valued Indian companies by a whopping Rs 2,55,995 crore last week, with RIL taking the steepest hit.
The equity market witnessed a severe drubbing last week, with the BSE benchmark Sensex falling sharply by 1,850.15 points to end at 34,376.99.
From the top 10 pack, RIL’s market capitalisation (m-cap) plummeted Rs 1,32,061.4 crore to Rs 6,65,441.16 crore. Tata Consultancy Services (TCS) took the second biggest hit, with its valuation plunging Rs 31,164.6 crore to Rs 8,05,187.65 crore, while that of ITC tanked Rs 23,932.94 crore to Rs 3,39,284.67 crore.
Kotak Mahindra Bank’s m-cap nosedived Rs 17,091.72 crore to Rs 2,00,874.28 crore and that of Maruti Suzuki India slumped Rs 13,821.67 crore to Rs 2,08,223.79 crore. HDFC Bank suffered an erosion of Rs 11,629.51 crore to Rs 5,33,340.93 crore, and that of Hindustan Unilever Ltd (HUL) fell sharply by Rs 10,433.61 crore to Rs 3,37,566.18 crore.
The valuation of HDFC dived Rs 6,812.89 crore to Rs 2,90,520.19 crore and that of SBI went down by Rs 6,425.7 crore to Rs 2,30,075.87 crore. Similarly, the m-cap of Infosys fell by Rs 2,621.03 crore to Rs 3,15,331.73 crore.
In the ranking of top-10 firms, TCS stood at number one position, followed by Reliance Industries Ltd (RIL), HDFC Bank, ITC, HUL, Infosys, HDFC, SBI, Maruti and Kotak Mahindra Bank.