ALSO READ7 of top 10 most valued firms lose Rs 985 bn in m-cap; RIL, ONGC drop most Led by HDFC Bank, 6 of 10 most valued firms add Rs 31,646 cr in m-cap Led by Maruti, 7 of 10 most-valued firms see Rs 269.71-bn drop in m-cap 8 of top 10 stocks lost Rs 54,539 cr in m-cap last week, RIL worst hit Nine of 10 most valued cos add Rs 666.2 bn in m-cap; TCS biggest gainer
The combined market valuation of the 10 most valued Indian companies slumped by Rs 1119.86 billion (Rs 1,11,986.87 crore) last week, with Tata Consultancy Services (TCS) taking the steepest hit. Over the last week, the BSE Sensex recorded a steep fall of 1,060.99 points or 3.02 per cent as sentiment was hit by the imposition of long-term capital gains tax on equities as well as the global markets turmoil. TCS, the country's most valued firm, suffered a loss of Rs 338.54 billion (Rs 33,854.18 crore) in its market capitalisation (m-cap) to reach Rs 5,68,983.70 crore. HDFC Bank's valuation dropped Rs 249.3567 billion (Rs 24,935.67 crore) to Rs 4802.06 billion (Rs 4,80,206 crore) and that of HDFC slumped Rs 207.33 billion (Rs 20,733.18 crore) to Rs Rs 2833.36 billion (2,83,336.41 crore). The m-cap of Hindustan Unilever (HUL) plunged Rs 8,073.5 crore to Rs 2,89,044.47 crore. The valuation of Infosys dived Rs 65.14 billion (Rs 6,514.19 crore) to Rs 2428.27 billion (Rs 2,42,827.36 crore) and that of ONGC declined by Rs 60.31 billion (Rs 6,031.62 crore) to Rs 2409.43 billion (Rs 2,40,943.99 crore). The market cap of Reliance Industries Limited (RIL) eroded by Rs 49.08 billion (Rs 4,908.95 crore) to Rs 5687.73 billion (Rs 5,68,773.21 crore) and that of ITC slumped Rs 48.77 billion (Rs 4,877.27 crore) to Rs 3308 billion (Rs 3,30,800.77 crore). Similarly, the valuation of Maruti Suzuki India tumbled by Rs 16.26 billion (Rs 1,626.7 crore) to Rs 2702.54 billion (Rs 2,70,254.42 crore) and that of SBI dipped Rs 4.31 billion (Rs 431.61 crore) to Rs 2558.54 billion (Rs 2,55,854.07 crore). In the ranking of top-10 firms, TCS stood at number one position, followed by RIL, HDFC Bank, ITC, HUL, HDFC, Maruti, SBI, Infosysand ONGC.