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Seven of top 10 most valued companies lose over Rs 59,000 crore in combined m-cap

Combined erosion of Rs 59,259.58 crore was seen in the market capitalisation of the seven of the top 10  most valued domestic firms last week

twitter-logoBusinessToday.In | September 20, 2020 | Updated 18:32 IST
Seven of top 10 most valued companies lose over Rs 59,000 crore in combined m-cap
Hindustan Unilever, HDFC Bank and Kotak Mahindra Bank were the major laggards

Combined erosion of Rs 59,259.58 crore was seen in the market capitalisation of the seven of the top 10  most valued domestic firms last week. Hindustan Unilever, HDFC Bank and Kotak Mahindra Bank were the major laggards for the trading week closed on Friday.

The seven companies posting losses in their market capitalisation were Hindustan Unilever (HUL), HDFC Bank, Kotak Mahindra Bank, Reliance Industries, HDFC, ITC and ICICI Bank. However, Tata Consultancy Services (TCS), Infosys and Bharti Airtel saw gains in their valuation.

HUL's m-cap fell Rs 14,320.54 crore to Rs 4,93,007.39 crore, HDFC Bank's valuation tumbled Rs 11,611.6 crore to Rs 5,81,900.65 crore and Kotak Mahindra Bank's market worth tanked Rs 10,205.11 crore to Rs 2,53,002.13 crore.

The market cap of RIL eroded by Rs 9,027.32 crore to Rs 15,58,987.77 crore and that of HDFC declined Rs 8,144.93 crore to Rs 3,09,076.75 crore.

ITC's valuation fell by Rs 5,783.23 crore to Rs 2,20,500.76 crore and ICICI Bank's m-cap slipped Rs 166.85 crore to Rs 2,55,082.88 crore. On the other hand, TCS added Rs 28,912.12 crore to take its valuation to Rs 9,19,615.68 crore.

Tata Consultancy Services on Monday became the second Indian company to attain a market valuation of Rs 9 lakh crore after Reliance Industries. The valuation of Infosys jumped by Rs 24,342.45 crore to Rs 4,27,025.67 crore and that of Bharti Airtel rose by Rs 2,755.05 crore to Rs 2,70,977.53 crore.

In the ranking of top 10 companies in terms of m-cap, RIL was ruling the chart followed by TCS, HDFC Bank, HUL, Infosys, HDFC, Bharti Airtel, ICICI Bank, Kotak Mahindra Bank and ITC. During the last week, the BSE benchmark Sensex dropped 8.73 points or 0.02 per cent.

(With PTI inputs)

Also read: Sebi new margin rules: Daily cash turnover plunges 29%; F&O stable

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