Six of top-10 firms lose ₹95,432 crore in m-cap; RIL takes biggest hit

Six of the 10 most valued domestic companies suffered a combined erosion of ₹95,432.26 crore in market valuation last week, dragged down by Reliance Industries Limited (RIL) and HDFC Bank amid a bearish trend in the broader market.

During the last week, the BSE Sensex plunged 720.67 points or 1.88 per cent. On Friday, the Sensex plummeted 894 points amid the Yes Bank crisis and coronavirus outbreak which has stoked fears of a global recession.

The market capitalisation (m-cap) of RIL plummeted ₹37,144 crore to ₹8,05,118.67 crore, taking the biggest hit among the top-10 firms for the week ended Friday.

HDFC Bank’s valuation dropped ₹23,435 crore to ₹6,22,109.94 crore and that of Bajaj Finance tumbled ₹14,229.1 crore to ₹2,54,309.90 crore.

The market cap of HDFC tanked ₹11,625.3 crore to ₹3,65,214.59 crore and that of ICICI Bank fell ₹6,325.67 crore to reach ₹3,14,705.23 crore.

Related news: Stock markets tank over Yes Bank crisis and Coronavirus fears

Bharti Airtel also suffered an erosion of ₹2,673.22 crore from its m-cap to stand at ₹2,83,225.26 crore.

In contrast, Tata Consultancy Services (TCS) made the maximum gain as its m-cap climbed ₹43,884.14 crore to ₹7,94,717.56 crore.

Infosys added ₹3,364.34 crore to its valuation to reach ₹3,14,821.60 crore. The m-cap of Hindustan Unilever Limited (HUL) rose by ₹2,534.8 crore to ₹4,73,359.77 crore.

Likewise, Kotak Mahindra Bank gained ₹2,447.7 crore to ₹3,12,168.86 crore.

In the ranking of the 10 most valued firms, RIL retained its top spot, followed by TCS, HDFC Bank, HUL, HDFC, Infosys, ICICI Bank, Kotak Mahindra Bank, Airtel and Bajaj Finance.