Six of top-10 firms shed Rs 87,973.5 cr in m-cap; TCS, HDFC biggest drags


NEW DELHI, Sept 8:Six of the 10 most valued domestic firms suffered a combined erosion of Rs 87,973.5 crore in market valuation last week, with TCS and HDFC taking the biggest hit.

Reliance Industries Ltd (RIL), HUL, ITC and ICICI Bank were the other firms which witnessed a drop in their market capitalisation (m-cap), while HDFC Bank, Infosys, Kotak Mahindra Bank and State Bank of India (SBI) were on the gainers’ side.

The m-cap of Tata Consultancy Services (TCS) tanked Rs 22,664.4 crore to Rs 8,24,642.82 crore and that of HDFC plunged Rs 21,492.9 crore to Rs 3,52,367.54 crore.

Likewise, the valuation of RIL dropped Rs 16,386.6 crore to Rs 7,74,957.81 crore and that of Hindustan Unilever Limited (HUL) tumbled Rs 13,300.7 crore to Rs 3,93,703.54 crore.

ICICI Bank’s m-cap declined by Rs 12,163.3 crore to reach Rs 2,52,811.76 crore and that of ITC fell by Rs 1,965.59 crore to Rs 2,99,692.17 crore.

In contrast, the market cap of Infosys zoomed Rs 10,973.83 crore to Rs 3,60,847.99 crore.

HDFC Bank added Rs 4,692.82 crore to its valuation to stand at Rs 6,14,134.28 crore, while Kotak Mahindra Bank’s m-cap climbed by Rs 1,924.67 crore to reach Rs 2,75,318.74 crore.

The m-cap of SBI rose by Rs 223.11 crore to Rs 2,44,489.73 crore.

During the holiday-truncated week gone by, the Sensex lost 351.02 points or 0.94 per cent.

In the ranking of top-10 frontline companies, TCS was at the number one position, followed by RIL, HDFC Bank, HUL, Infosys, HDFC, ITC, Kotak Mahindra Bank, ICICI Bank and SBI. (PTI)