Six of top-10 firms lose Rs 62,147.7 cr in m-cap; RIL takes the biggest hit, ICICI Bank valuation tumbles by Rs 10,928 cr

New Delhi: Six of the 10 most valued Indian companies suffered a combined erosion of Rs 62,147.7 crore in market valuation last week, with RIL and TCS taking the biggest knocks amid a weak broader market. HDFC Bank, ITC, SBI and ICICI Bank were the other laggards in the top-10 pack, while HDFC, Hindustan Unilever Ltd (HUL), Infosys and Kotak Mahindra Bank saw an increase in their market capitalisation (m-cap) for the week ended Friday. The market valuation of RIL plunged Rs 20,031.5 crore to Rs 7,91,750.71 crore ahead of its Q1 results, which were declared after market hours on Friday. The m-cap of Tata Consultancy Services (TCS) dropped Rs 11,632.4 crore to Rs 7,79,351.54 crore. [caption id=“attachment_6013191” align=“alignleft” width=“380”] Representational image. Reuters.[/caption] ICICI Bank’s valuation tumbled Rs 10,928.1 crore to Rs 2,64,640.73 crore and that of ITC plummeted Rs 8,035.26 crore to Rs 3,29,261.93 crore. The market cap of SBI tanked Rs 6,738.08 crore to Rs 3,17,716.17 crore and that of HDFC Bank declined Rs 4,782.42 crore to Rs 6,49,302.53 crore. In contrast, the valuation of Infosys zoomed Rs 25,125.99 crore to Rs 3,37,418.53 crore. HDFC added Rs 8,152.05 crore to its m-cap to reach Rs 3,97,492.11 crore. Kotak Mahindra Bank’s valuation climbed Rs 2,990.49 crore to Rs 2,86,383.79 crore, while that of HUL moved up by Rs 2,489.52 crore to Rs 3,73,384.88 crore. In the ranking of top-10 firms, RIL was placed at the number one position, followed by TCS, HDFC Bank, HDFC, HUL, Infosys, ITC, SBI, Kotak Mahindra Bank and ICICI Bank. During the last week, the Sensex declined 399.22 points or 1.03 percent, to close at 38,337.01 Friday.