Five of the 10 most valued domestic firms together lost Rs 1,07,160 crore in market valuation last week, pulled down largely by heavyweights Reliance Industries Limited (RIL) and Tata Consultancy Services (TCS).
RIL, TCS, and Infosys suffered an erosion in their market capitalisation (m-cap) for the week ended Friday. However, HDFC Bank, HDFC Ltd, Bajaj Finance Ltd and Bharti Airtel finished with gains.
RIL's valuation dropped by Rs 69,378.51 crore to Rs 12.84 lakh crore, taking the biggest drop among the 10 most valued firms. The market capitalisation of TCS tanked Rs 4,165.14 crore to Rs 9.97 lakh crore and that of Hindustan Unilever Ltd (HUL) declined Rs 16,211.94 crore to Rs 4.98 lakh crore. Infosys' valuation diminished by Rs 12,948.61 crore to Rs 4,69,834.44 lakh crore. The m-cap of ICICI Bank eroded by Rs Rs 4,455.8 crore to Rs 3.31 lakh crore.
In contrast, HDFC's valuation jumped Rs 3,938.48 crore to Rs 4.19 lakh lakh crore. HDFC Bank added Rs 18,827.94 crore to its valuation at Rs 7.72 crore. Bajaj Finance added Rs 20,747.08 crore to Rs 2.84 lakh crore and the valuation of Bharti Airtel rose by Rs 1,145.67 crore to Rs 2.63 lakh crore.
In the ranking of ten most valued companies, RIL was in the lead place followed by TCS, HDFC Bank, HUL, Infosys, HDFC, Kotak Mahindra Bank, ICICI Bank, Bajaj Finance and Bharti Airtel Ltd.