Six of the 10 most-valued Indian companies saw a cumulative erosion of ₹ 47,463 crore in market valuation last week, with TCS and RIL taking the hardest knock.
IT major TCS’ market capitalisation (m-cap) tumbled as much as ₹ 19,556.5 crore to ₹ 4,58,686.07 crore, the worst hit in the group.
For RIL, the fall was ₹ 13,387.62 crore. With a market cap of ₹ 4,43,595.61 crore, the Mukesh Ambani-led firm is fast narrowing the gap with the top-ranked TCS. RIL’s valuation is just ₹ 15,090.46 crore less than that of TCS.
The final picture showed TCS leading the ranking chart of market cap, followed by RIL, HDFC Bank, ITC, ONGC, SBI, HDFC, Infosys, IOC and HUL, in that order.
While TCS, RIL, ONGC, HDFC, Infosys and HUL lost out, the market capitalisation (m-cap) of HDFC Bank, ITC, SBI and IOC advanced for the week to Thursday.
The markets were shut on Friday because of Baba Ambedkar Jayanti and Good Friday.
For RIL, the fall was ₹ 13,387.62 crore at ₹ 4,43,595.61 crore and that of Infosys came down by ₹ 11,450.27 crore to ₹ 2,13,937.43 crore.
ONGC’s valuation declined by ₹ 1,604.16 crore to ₹ 2,37,543.18 crore and HDFC’s slipped ₹ 1,453.63 crore to ₹ 2,34,304.40 crore.
However, in HUL’s case, it was a mild drop of ₹ 10.82 crore at ₹ 1,99,791.12 crore.
In contrast, the valuation of IOC surged ₹ 12,236.88 crore to ₹ 2,05,113.43 crore and ITC added ₹ 8,503.17 crore at ₹ 3,39,823.04 crore.
SBI saw its market cap jump by ₹ 1,297.57 crore to ₹ 2,35,996.84 crore and HDFC Bank ₹ 153.75 crore to ₹ 3,68,840.02 crore.
Over the past week, the Sensex fell 245.16 points, or 0.82 per cent, while the Nifty was down 47.50 points, or 0.51 per cent.
