Three of the top 10 and India’s most valued companies together saw a dissolution of ₹1,07,026.12 crore in market capitalisation last week where IT major TCS took the biggest knock.
The three companies that witnessed the same were Tata Consultancy Services (TCS), ITC and Infosys. The firms suffered a decline in their valuation for the week ended on Friday. On the other hand, RIL, HDFC Bank, Hindustan Unilever Ltd (HUL), HDFC, SBI, Kotak Mahindra Bank and Maruti Suzuki India ended with gains.
Altogether, the erosion suffered by the three companies was higher than the combined gain of Rs 97,498.38 crore that was made by the rest of the seven firms.
The valuation of TCS plunged by Rs 85,330.17 crore Rs 7,19,857.48 crore. On the other hand, the market cap of Infosys slumped ₹18,696.68 crore to Rs 2,96,635.05 crore and that of ITC declined by Rs 2,999.27 crore to Rs 3,36,285.40 crore.
Talking about the gainers side, Reliance Industries Ltd (RIL) emerged as the biggest player as its market cap increased by ₹48,524.59 crore to ₹7,13,965.75 crore. Other companies’ such as Kotak Mahindra Bank’s valuation soared by ₹22,130.78 crore to ₹2,23,005.06 crore and that of Maruti increased by ₹11,782.63 crore to ₹2,20,006.42 crore.
The valuation of State Bank of India (SBI) increased by Rs 4,953.14 crore to Rs 2,35,029.01 crore and that of HDFC Bank rose by Rs 4,388.24 crore to Rs 5,37,729.17 crore. HDFC out in ₹3,727.52 crore to reach Rs 2,94,247.71 crore in market valuation and HUL added Rs 1,991.48 crore to Rs 3,39,557.66 crore.
The ranking of the top-10 firms was as follows:
– HDFC Bank
– Kotak Mahindra Bank