With Indian stocks literally melting under the heat of the global economic crisis, Jaiprakash Associates bore the brunt and emerged as the biggest loser, while FMCG major Hindustan Unilever (HUL) remained as the sole gainer in share prices among blue-chip stocks.
However, Reliance Industries (RIL) was the biggest loser in terms of market capitalisation with its valuation falling from Rs 4 lakh crore mark to below Rs 2 lakh crore level. It suffered a loss of Rs 2.25 lakh crore in its market cap -- the biggest fall in market valuation on the bourses.
Jaiprakash Associates share price plunged by 80.5 per cent to Rs 83 today from Rs 426 on December 31, 2007.
However, share price of HUL soared by 16.99 per cent to Rs 250.25 today from Rs 213.90 on December 31 last year.
RIL incurred a 57.2 per cent fall in its share price at Rs 1,230.25 from over Rs 2,881.05 in the previous year.
Further, the Sensex, which went through dramatic upheavals, saw erosion of more than half of its value in 2008.
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The index nosedived over 52 per cent to settle at 9,647.31 points on the last trading day of 2008 as against 20,286.99 points on December 31, 2007.
Among the Sensex pack, the companies which saw their share price dwindle by as much as 80 per cent in 2008 include Tata Motors (down 77 per cent), Tata Steel (76.8 per cent), Sterlite Industries (74.80 per cent) and Hindalco (73.5 per cent).
In terms of fall in market capitalisation, the biggest private sector lender, ICICI Bank, was the next to RIL to suffer the second biggest drop in market cap, with its market value shrinking by over Rs 87,200 crore from that in the past year.