Eight of top-10 most-valued firms witness combined erosion of Rs 3.63 lakh cr in m-cap

New Delhi, Mar 22 () Eight of the top-10 most-valued Indian companies witnessed a combined erosion of Rs 3,63,884.03 crore in market valuation last week, with HDFC Bank taking the biggest hit.

During the last week, the Sensex plummeted 4,187.52 points or 12.27 per cent as markets were hit hard due to concerns over the impact of coronavirus on the economy.

Hindustan Unilever Limited (HUL) and ITC were the only two companies from the top-10 list to have witnessed gain in their market capitalisation for the trading week closed on Friday.

HDFC Bank's valuation tumbled Rs 1,03,470.28 crore to Rs 4,83,720.15 crore.

The market cap of ICICI Bank plummeted Rs 65,853.55 crore to Rs 2,23,753.14 crore.

Valuation of Reliance Industries Ltd (RIL) eroded by Rs 54,961.45 crore to Rs 6,46,732.07 crore and that of HDFC dropped by Rs 54,479.15 crore to Rs 3,03,722.13 crore.

The market cap of Kotak Mahindra Bank tumbled Rs 39,626.31 crore to Rs 2,41,611.45 crore and that of Infosys tanked Rs 24,382.12 crore to Rs 2,49,123.50 crore.

Likewise, Bharti Airtel's valuation diminished by Rs 17,621.45 crore to Rs 2,51,992.19 crore and that of Tata Consultancy Services (TCS) declined by Rs 3,489.72 crore to Rs 6,74,678.77 crore.

In contrast, ITC, which last week re-entered the top-10 list of companies by market valuation, added Rs 16,367.12 crore to Rs 2,15,790.12 crore.

HUL's valuation also gained Rs 4,178.1 crore to Rs 4,44,329.52 crore.

In the ranking of the top-10 firms, TCS was leading the chart followed by RIL, HDFC Bank, HUL, HDFC, Bharti Airtel, Infosys, Kotak Mahindra Bank, ICICI Bank and ITC.

Tata Consultancy Services on Wednesday went past RIL yet again to become the most-valued Indian firm by market valuation. SUM HRS