Seven of the 10 most valued domestic firms together lost Rs 86, 879.7 crore in market valuation last week with FMCG major ITC taking the steepest hit. While Reliance Industries Ltd (RIL), HDFC Bank, HDFC, Kotak Mahindra Bank, ICICI Bank and SBI suffered an erosion in their market capitalisation (m-cap) for the week ended Friday, TCS, HUL and Infosys finished with gains.
ITC's m-cap dropped Rs 20,748.4 crore to Rs 2,89,740.59 crore and that of SBI's tumbled Rs 17,715.4 crore to Rs 2,41,946.22 crore. The market valuation of HDFC Bank tanked Rs 17,335.3 crore to reach Rs 5,91,490.98 crore while ICICI Bank's m-cap plunged Rs 15,084.5 crore to Rs 2,55,484.91 crore.
HDFC's valuation declined by Rs 9,921.2 crore to Rs 3,52,202.72 crore, while Kotak Mahindra Bank's m-cap fell by Rs 5,155.85 crore to Rs 2,81,185.14 crore. The m-cap of RIL went down by Rs 919.16 crore to Rs 8,08,836 crore.
In contrast, the m-cap of TCS zoomed Rs 31,538.79 crore to Rs 8,43,367.22 crore and that of Infosys jumped Rs 11,746.94 crore to Rs 3,44,419.45 crore. Hindustan Unilever Ltd (HUL) added Rs 7,176.31 crore in its valuation to stand at Rs 4,02,512.28 crore.
In the ranking of the 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.