New Delhi, India (BBN) – Six of the 10 most-valued Indian companies saw a cumulative erosion of Rs. 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 Rs. 19,556.5 crore to Rs. 4,58,686.07 crore, the worst hit in the group, reports The Hindu Business Line quoting the PTI.
For RIL, the fall was Rs. 13,387.62 crore.
With a market cap of Rs. 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 Rs. 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 Rs. 13,387.62 crore at Rs. 4,43,595.61 crore and that of Infosys came down by Rs. 11,450.27 crore to Rs. 2,13,937.43 crore.
ONGC’s valuation declined by Rs. 1,604.16 crore to Rs. 2,37,543.18 crore and HDFC’s slipped Rs. 1,453.63 crore to Rs. 2,34,304.40 crore.
However, in HUL’s case, it was a mild drop of Rs. 10.82 crore at Rs. 1,99,791.12 crore.
In contrast, the valuation of IOC surged Rs. 12,236.88 crore to Rs. 2,05,113.43 crore and ITC added Rs. 8,503.17 crore at Rs. 3,39,823.04 crore.
SBI saw its market cap jump by Rs. 1,297.57 crore to Rs. 2,35,996.84 crore and HDFC Bank Rs. 153.75 crore to Rs. 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.