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Journalism of Courage
In tandem with an overall weak stock market, nine of the top-10 most valued Indian companies witnessed a combined erosion of Rs 65,919 crore in market valuation last week.
Barring ICICI Bank, rest nine companies, including TCS, RIL, ONGC and ITC suffered losses in their market capitalisation (m-cap).
In a truncated trading week, the BSE benchmark Sensex fell by 426.63 points to conclude at 27,011.31.
The m-cap of ITC slumped Rs 19,958.64 crore to Rs 2,58,300.12 crore, taking the steepest hit among the top-10 firms.
ONGC’s valuation dipped Rs 9,582.15 crore at Rs 2,60,600.23 crore, CIL lost Rs 8,306.02 crore at Rs 2,29,284.03 crore and Infosys took a hit of Rs 6,184.52 crore, to reach Rs 2,23,079.27 crore.
The market-cap of TCS tanked Rs 5,925.15 crore to Rs 4,83,149.64 crore and RIL suffered a loss of Rs 5,343.19 crore to Rs 2,79,226.64 crore.
HDFC Bank’s market valuation dropped Rs 4,361.3 crore to Rs 2,47,942.52 crore and that of SBI slipped Rs 4,237.07 crore to Rs 2,04,325.45 crore.
The m-cap of Sun Pharma fell by Rs 2,021.09 crore to Rs 2,26,025.36 crore.
On the other hand, ICICI Bank added Rs 13,464.86 crore to Rs 1,92,077.86 crore to its market value.
In the domestic market-cap chart, TCS stood at number one position followed by RIL, ONGC, ITC, HDFC Bank, CIL, Sun Pharma, Infosys, SBI and ICICI Bank.
