Eight of top-10 most valued firms lose Rs 89535 crore in m-cap

NEW DELHI: Eight of the 10 most valued Indian companies suffered a combined erosion of Rs 89,535 crore in market valuation last week, with SBI emerging as the biggest drag.nnIn the top-10 list, only Tata Consultancy Services (TCS) and HUL saw gains in their market capitalisation (m-cap) for the week ended Friday.nnReliance Industries Ltd (RIL), HDFC Bank, HDFC, Infosys, ITC, Kotak Mahindra Bank, SBI and ICICI Bank closed the week with losses.nnThe valuation of SBI tumbled Rs 30,388.3 crore to Rs 2,75,279.64 crore.nnRIL’s m-cap plummeted Rs 18,952.5 crore to Rs 7,50,674.86 crore and that of HDFC Bank plunged Rs 16,774.8 crore to Rs 6,05,627.15 crore.nnThe market valuation of HDFC tanked Rs 7,660.34 crore to Rs 3,66,471.19 crore and that of ITC declined Rs 6,995.81 crore to Rs 3,24,753.23 crore.nnInfosys’ market cap eroded by Rs 5,111.1 crore to reach Rs 3,33,037.59 crore and that of ICICI Bank went lower by Rs 3,003.03 crore to Rs 2,65,122.36 crore.nnThe valuation of Kotak Mahindra Bank fell by Rs 649.22 crore to Rs 2,87,873.18 crore.nnIn contrast, the m-cap of TCS zoomed Rs 36,491.94 crore to Rs 8,27,794.83 crore and that of Hindustan Unilever Limited (HUL) jumped by Rs 1,493.71 crore to Rs 3,76,145 crore.nnIn the ranking of top-10 firms, TCS was at the number one ranking, followed by RIL, HDFC Bank, HUL, HDFC, Infosys, ITC, Kotak Mahindra Bank, SBI and ICICI Bank.nnLast week, the Sensex lost 764.57 points or 2.01 per cent.nnSource: Press Trust of India