Nine of top-10 Indian firms lose INR 84,354 crore in m-cap, TCS worst hit

New Delhi, Aug. 18 (PTI): Nine of the 10 most valued Indian companies suffered a combined loss of INR 84,354.1 crore in their market valuation last week mainly dragged down by Tata Consultancy Services (TCS). During the holiday-curtailed week, the BSE Sensex lost 231.58 points. Reliance Industries Ltd (RIL) was the only firm among the top 10 companies to post a gain in its market valuation. The market capitalisation (m-cap) of RIL zoomed INR 72,153.08 crore to INR 8,09,755.16 crore at close on Friday after the announcement of a host of investor-friendly proposals at its annual general meeting early last week. TCS, HDFC Bank, Hindustan Unilever Limited (HUL), HDFC, Infosys, ITC, Kotak Mahindra Bank, ICICI Bank and SBI closed the week with losses. HDFC’s valuation tumbled INR 19,495.4 crore to INR 3,62,123.92 crore and that of HDFC Bank by INR 15,065.8 crore to INR 6,08,826.25 crore. Infosys’ m-cap eroded by INR 6,700.27 crore to INR 3,32,672.51 crore and that of Kotak Mahindra Bank declined INR 6,525.48 crore to INR 2,86,340.99 crore. HUL’s m-cap fell by INR 2,954.95 crore to INR 3,95,335.97 crore and that of ITC dipped INR 1,657.41 crore to INR 3,10,488.97 crore. The valuation of ICICI Bank fell by INR 790.71 crore to INR 2,70,569.37 crore and that of SBI went lower by INR 356.99 crore to INR 2,59,661.57 crore. In the ranking of top-10 firms, TCS remained at the number one position followed by RIL, HDFC Bank, HUL, HDFC, Infosys, ITC, Kotak Mahindra Bank, ICICI Bank and SBI.