Stocks of six of the 10 most-valued Indian companies fell last week.
New Delhi: 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.For latest news on Business, like us on Facebook and follow us on Twitter.
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.
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