The combined market valuation of four of the top-10 Indian firms plummeted by Rs. 61,930.86 crore last week, dragged down mainly by ITC which alone took a hit of Rs.58,902.54 crore.
While ITC, HDFC, State Bank of India (SBI) and Maruti Suzuki India suffered losses in their market capitalisation (m—cap) for the week ended Friday July 21,2017, RIL, TCS, HDFC Bank, HUL, Infosys and ONGC together added Rs. 54,899.59 crore. However, their cumulative gain was less than the total loss suffered by the four firms.
ITC emerged as the worst hit among the top—10 entities as its m—cap crashed Rs. 58,902.54 crore to Rs.3,50,868.47 crore.
During the last week shares of ITC fell by over 14 per cent. On Tuesday July 18,2017 itself, the stock had plunged nearly 13 per cent on worries over increase in cess on cigarettes.
The market valuation of SBI fell by Rs. 1,079.01 crore to Rs. 2,50,631.58 crore and that of HDFC slipped Rs.1,067.24 crore to Rs. 2,61,489.41 crore.
Maruti’s mcap went down by Rs. 882.07 crore to Rs. 2,27,393.79 crore.
From the gainers side, Reliance Industries Ltd (RIL) stole the show as its market valuation jumped Rs.17,933.32 crore to Rs. 5,15,790.39 crore.
Tata Consultancy Services (TCS) added Rs. 17,630.59 crore to Rs. 4,76,829.90 crore in its m—cap and Oil & Natural Gas Corporation (ONGC) saw a gain of Rs. 7,699.94 crore to Rs. 2,11,170.88 crore.
The m—cap of HDFC Bank surged Rs. 5,752.62 crore to Rs. 4,38,422.41 crore and that of Hindustan Unilever Ltd (HUL) rose by Rs. 4,080.02 crore to Rs. 2,50,764.04 crore.
Infosys’ valuation advanced by Rs. 1,803.1 crore to Rs. 2,25,077.61 crore.
In the ranking of top—10 firms, RIL retained its numero— uno position followed by TCS, HDFC Bank, ITC, HDFC, HUL, SBI, Maruti, Infosys and ONGC.
During the past week, the Sensex registered a rise of 8.14 points, or 0.02 per cent, while the Nifty rose 28.90 points, or 0.29 per cent.