Seven of top 10 firms lose Rs 1.32 trn in m-cap; Reliance biggest drag

Seven of the 10 most valued firms suffered a combined erosion of Rs 1.32 trillion in market valuation last week

Seven of the 10 most valued firms suffered a combined erosion of Rs 1,32,535.79 crore in market valuation last week, with Reliance Industries emerging as the worst hit.

In the holiday-truncated week, the Sensex tumbled 1,108.25 points or 1.86 per cent.

While Reliance Industries Ltd (RIL), TCS, HDFC Bank, Infosys, HUL, Bajaj Finance and HDFC were the laggards from the top-10 pack, ICICI Bank, SBI and Adani Green Energy were the gainers.

Adani Green Energy had on Monday last week entered the list of the top-10 most valued domestic firms.

The market capitalisation (m-cap) of Reliance Industries plummeted by Rs 43,491.37 crore to reach Rs 17,26,714.05 crore.

The valuation of Infosys dived Rs 27,953.78 crore to Rs 7,35,611.35 crore.

HDFC Bank's market valuation eroded by Rs 27,866.34 crore to Rs 8,12,338.57 crore and that of HDFC tumbled Rs 14,631.11 crore to Rs 4,31,028.49 crore.

The m-cap of Tata Consultancy Services (TCS) tanked Rs 9,348.88 crore to stand at Rs 13,39,688.48 crore.

The valuation of Hindustan Unilever (HUL) declined by Rs 7,119.26 crore to Rs 5,05,737.77 crore and that of Bajaj Finance diped by Rs 2,125.05 crore to Rs 4,43,685.79 crore.

In contrast, the new entrant Adani Green Energy added Rs 84,581.99 crore, taking its valuation to Rs 4,48,050.99 crore.

ICICI Bank's market capitalisation jumped Rs 5,559.02 crore to Rs 5,29,739.59 crore and that of State Bank of India (SBI) rose Rs 1,249.45 crore to Rs 4,61,848.65 crore.

In the ranking of top-10 firms, Reliance Industries maintained its top position, followed by TCS, HDFC Bank, Infosys, ICICI Bank, HUL, SBI, Adani Green Energy, Bajaj Finance and HDFC.

Stock markets were closed on Thursday for Mahavir Jayanti and Dr Babasaheb Ambedkar Jayanti, as well as on Friday on account of Good Friday.