Six of India's top 10 firms lose Rs 26,624 cr in m-cap

ICICI Bank's valuation tumbled Rs 6,883.44 crore to Rs 3,48,532.24 crore, taking the worst hit among the top-10 firms.

Six of India’s 10 most-valued companies together lost Rs 26,624.10 crore in market valuation last week, with ICICI Bank hurting the most.

Reliance Industries Limited (RIL), HDFC Bank, Hindustan Unilever Limited (HUL), Kotak Mahindra Bank and State Bank of India were other blue chips that saw a drop in their market capitalisation (m-cap) for the week ended Friday, while Tata Consultancy Services, HDFC, Infosys and ITC ended in the green.

ICICI Bank's valuation tumbled Rs 6,883.44 crore to Rs 3,48,532.24 crore, taking the steepest hit among the top-10 firms.

The m-cap of Kotak Mahindra Bank dropped Rs 5,197.08 crore to Rs 3,16,763.68 crore and that of HUL plunged Rs 4,589.4 crore to Rs 4,17,538.13 crore.

HDFC Bank's market cap tanked Rs 3,724.38 crore to Rs 6,94,541.80 crore and that of State Bank of India (SBI) fell Rs 3,123.61 crore to Rs 2,97,858.91 crore.

The valuation of RIL decreased by Rs 3,106.21 crore to Rs 9,74,494.06 crore. In contrast, Infosys added Rs 3,960.45 crore to its m-cap to stand at Rs 3,17,730.27 crore.

ITC's valuation climbed Rs 1,843.66 crore to Rs 2,93,081.89 crore and that of HDFC went up by Rs 1,772.25 crore to Rs 4,24,432.18 crore. The m-cap of Tata Consultancy Services (TCS) spurted Rs 844.29 crore to Rs 8,25,674.73 crore.

In terms of ranking, RIL retained its number one position, followed by TCS, HDFC Bank, HDFC, HUL, ICICI Bank, Infosys, Kotak Mahindra Bank, SBI and ITC.

During the last week, the Sensex slipped 110.53 points or 0.26 per cent.

Photograph: Shailesh Andrade/Reuters