M-cap of eight of top-10 most valued companies erodes by over Rs 1.38 lakh-crore

New Delhi, March 21

Eight of the 10 most valued companies witnessed a combined erosion of Rs 1,38,976.88 crore in their market valuation last week, with Reliance Industries and HDFC Bank taking the biggest hit.

During the last week, the 30-share BSE benchmark declined 933.84 points or 1.83 per cent.

From the top-10 pack, Tata Consultancy Services (TCS) and Hindustan Unilever Limited managed to close the week with gains in their market valuation.

The market capitalisation of Reliance Industries tanked Rs 35,976.08 crore to Rs 13,19,808.41 crore. HDFC Bank’s valuation plunged Rs 30,061.52 crore to reach Rs 8,25,024.73 crore and Kotak Mahindra Bank witnessed a decline of Rs 20,787.22 crore to Rs 3,62,953.84 crore.

The valuation of ICICI Bank dipped Rs 18,172.67 crore to reach Rs 4,05,561.24 crore and that of Infosys tanked Rs 12,460.17 crore to Rs 5,73,104.03 crore.

State Bank of India’s valuation eroded by Rs 9,013.86 crore to Rs 3,31,192.33 crore and that of HDFC declined Rs 6,313.77 crore to Rs 4,56,678.43 crore.

The market capitalisation of Bajaj Finance declined by Rs 6,191.59 crore to Rs 3,28,524.59 crore.

In contrast, Hindustan Unilever added Rs 25,294.91 crore to take its valuation to Rs 5,43,560.03 crore and that of TCS rose by Rs 2,348.9 crore to Rs 11,33,111.91 crore.

In the ranking of top-10 firms, Reliance Industries retained the title of the most valued company, followed by TCS, HDFC Bank, Infosys, Hindustan Unilever, HDFC, ICICI Bank, Kotak Mahindra Bank, State Bank and Bajaj Finance Limited in that order. PTI