Three of top 10 cos lose Rs 1 trn in m-cap; TCS alone takes Rs 853-bn hit

From the gainers side, RIL emerged as the biggest winner as its market cap soared by Rs 485.24 billion to Rs 7.13 trillion

Three of the 10 most valued Indian companies together witnessed an erosion of Rs 1.07 trillion in market capitalisation last week, with IT major TCS taking the biggest knock.

Tata Consultancy Services (TCS), ITC and Infosys suffered a decline in their valuation for the week ended Friday, whereas RIL, HDFC Bank, Hindustan Unilever Ltd (HUL), HDFC, SBI, Kotak Mahindra Bank and Maruti Suzuki India finished with gains.

The cumulative erosion suffered by the three companies was higher than the combined gain of Rs 974.98 billion made by the rest of the seven firms.
 

The valuation of TCS nosedived by Rs 853.3 billion to Rs 7.19 trillion.

Shares of TCS Friday ended over 3 per cent lower even as the company reported a 22.6 per cent jump in consolidated net profit for the July-September quarter.

The m-cap of Infosys slumped Rs 186.96 billion to Rs 2.96 trillion and that of ITC fell by Rs 29.99 billion to Rs 3.36 trillion.

From the gainers side, Reliance Industries Ltd (RIL) emerged as the biggest winner as its market cap soared by Rs 485.24 billion to Rs 7.13 trillion.

Kotak Mahindra Bank's valuation jumped Rs 221.3 billion to Rs 2.23 trillion and that of Maruti surged Rs 117.82 billion to Rs 2.2 trillion.

The m-cap of State Bank of India (SBI) zoomed Rs 49.53 billion to Rs 2.35 trillion and that of HDFC Bank rose by Rs 43.88 billion to Rs 5.37 trillion.

HDFC added Rs 37.27 billion to reach Rs 2.94 trillion in market valuation and HUL gained Rs 19.91 billion to Rs 3.39 trillion.

Over the last week, the Sensex climbed 366.59 points to close at 34,733.58 on Friday.

In the ranking of the top-10 firms, TCS was at the number one position, followed by RIL, HDFC Bank, HUL, ITC, Infosys, HDFC, SBI, Kotak Mahindra Bank and Maruti.