Six of top 10 most valued firms lose Rs 34,590 crore in m-cap
NEW DELHI: Six of the 10 most valued domestic firms together lost Rs 34,590 crore in market valuation last week in a sluggish broader market.
While Reliance Industries Ltd (RIL), TCS, ITC, SBI, Kotak Mahindra Bank and ICICI Bank suffered an erosion in market capitalisation (m-cap) for the week ended Friday, HDFC Bank, HUL, HDFC and Infosys finished with gains.
SBI's m-cap dropped Rs 9,727.83 crore to Rs 3,04,909.35 crore and that of RIL tumbled Rs 9,159.92 crore to Rs 8,33,773.72 crore.
The market valuation of Tata Consultancy Services (TCS) tanked Rs 6,716.76 crore to reach Rs 8,17,625.87 crore and that of ICICI Bank plunged Rs 4,224.43 crore to Rs 2,68,847.85 crore.
ITC's market cap declined by Rs 3,371.12 crore to Rs 3,38,215.65 crore and that of Kotak Mahindra Bank fell by Rs 1,389.95 crore to Rs 2,88,708.23 crore.