Six of 10 top valued firms lose Rs 78,275.12 cr in m-cap

Team Udayavani, Aug 16, 2020, 10:53 AM IST

New Delhi: Six of the 10 most valued domestic firms witnessed a combined erosion of Rs 78,275.12 crore in market valuation last week, pulled down largely by heavyweights Reliance Industries and Tata Consultancy Services.

During the last week, the Sensex declined 163.23 points or 0.42 per cent.

Reliance Industries Limited (RIL), Tata Consultancy Services (TCS), HDFC Bank, Hindustan Unilever Limited, Bharti Airtel and Kotak Mahindra Bank were among the losers.

The market capitalisation of Infosys, HDFC, ITC and ICICI Bank, however, rose last week.

RIL’s valuation plunged by Rs 20,666.46 crore to Rs 13,40,213.50 crore, taking the biggest drop among the 10 most valued firms.

The market capitalisation of TCS tanked Rs 19,700.02 crore to Rs 8,41,453.51 crore and that of Bharti Airtel declined Rs 17,294.12 crore to Rs 2,88,544.43 crore.

Hindustan Unilever Limited’s valuation diminished by Rs 8,634.6 crore to Rs 5,10,792.18 crore.

The m-cap of Kotak Mahindra Bank eroded by Rs 6,728.15 crore to Rs 2,58,855.93 crore and that of HDFC Bank by Rs 5,251.77 crore to Rs 5,68,867.60 crore.

In contrast, HDFC’s valuation jumped Rs 12,609.98 crore to Rs 3,21,014.11 crore.

ICICI Bank added Rs 2,338.16 crore to Rs 2,34,090.06 crore and the valuation of Infosys rose by Rs 1,171.31 crore to Rs 4,06,123.91 crore.

The market capitalisation of ITC gained Rs 604.97 crore to Rs 2,41,787.95 crore.

In the ranking of ten most valued companies, RIL was at the lead place followed by TCS, HDFC Bank, HUL, Infosys, HDFC, Bharti Airtel, Kotak Mahindra Bank, ITC and ICICI Bank.