Eight of the 10 most valued Indian companies saw a combined erosion of Rs 82,653.59 crore in market valuation last week, with Reliance Industries ltd (RIl) taking the steepest hit. Except for Oil and Natural Gas Corporation (ONGC) and Infosys, the rest eight companies, including Tata Consultancy Services (TCS), HDFC Bank, ITC and HDFC, suffered losses in their market capitalisation (m-cap) for the week ended Friday.
RIl’s market valuation plummeted Rs 22,385.57 crore to Rs 4,95,300.50 crore. The m-cap of Hindustan Unilever ltd (HUl) tumbled Rs 13,939.14 crore to Rs 2,54,358.70 crore and that of TCS slid Rs 12,509.87 crore to Rs 4,66,511.89 crore. ITC's valuation slumped Rs 12,094.05 crore to Rs 3,14,642.67 crore and that of State Bank of India (SBI) tanked Rs 7,035.12 crore to Rs 2,19,038.28 crore.