Four of top-10 cos lose Rs 61,931 cr in mcap; ITC hit hard

NEW DELHI, July 23: The combined market valuation of four of the top-10 Indian firms plummeted by Rs 61,930.86 crore last week, dragged down mainly by ITC which alone took a hit of Rs 58,902.54 crore.
While ITC, HDFC, State Bank of India (SBI) and Maruti Suzuki India suffered losses in their market capitalisation (m-cap) for the week ended Friday, RIL, TCS, HDFC Bank, HUL, Infosys and ONGC together added Rs 54,899.59 crore. However, their cumulative gain was less than the total loss suffered by the four firms.
ITC emerged as the worst hit among the top-10 entities as its m-cap crashed Rs 58,902.54 crore to Rs 3,50,868.47 crore.
During the last week shares of ITC fell by over 14 per cent. On Tuesday itself, the stock had plunged nearly 13 per cent on worries over increase in cess on cigarettes.
The market valuation of SBI fell by Rs 1,079.01 crore to Rs 2,50,631.58 crore and that of HDFC slipped Rs 1,067.24 crore to Rs 2,61,489.41 crore.
Maruti’s mcap went down by Rs 882.07 crore to Rs 2,27,393.79 crore.
From the gainers side, Reliance Industries Ltd (RIL) stole the show as its market valuation jumped Rs 17,933.32 crore to Rs 5,15,790.39 crore.
Tata Consultancy Services (TCS) added Rs 17,630.59 crore to Rs 4,76,829.90 crore in its m-cap and Oil & Natural Gas Corporation (ONGC) saw a gain of Rs 7,699.94 crore to Rs 2,11,170.88 crore.
The m-cap of HDFC Bank surged Rs 5,752.62 crore to Rs 4,38,422.41 crore and that of Hindustan Unilever Ltd (HUL) rose by Rs 4,080.02 crore to Rs 2,50,764.04 crore.
Infosys’ valuation advanced by Rs 1,803.1 crore to Rs 2,25,077.61 crore.
In the ranking of top-10 firms, RIL retained its numero- uno position followed by TCS, HDFC Bank, ITC, HDFC, HUL, SBI, Maruti, Infosys and ONGC.
During the past week, the Sensex registered a rise of 8.14 points, or 0.02 per cent, while the Nifty rose 28.90 points, or 0.29 per cent. (PTI)


Please enter your comment!
Please enter your name here