7 of top 10 firms lost ₹1.32 lakh crore in market-cap, starting with Reliance

Seven of the 10 most valued firms suffered a combined erosion of ₹1,32,535.79 crore in market valuation last week, with Reliance Industries emerging as the worst hit.

In the holiday-truncated week, the Sensex tumbled 1,108.25 points or 1.86 per cent.

While Reliance Industries Ltd (RIL), TCS, HDFC Bank, Infosys, HUL, Bajaj Finance and HDFC were the laggards from the top-10 pack, ICICI Bank, SBI and Adani Green Energy were the gainers.

Adani Green Energy had on Monday last week entered the list of the top-10 most valued domestic firms.

The market capitalisation (m-cap) of Reliance Industries plummeted by ₹43,491.37 crore to reach ₹17,26,714.05 crore.

The valuation of Infosys dived ₹27,953.78 crore to ₹7,35,611.35 crore.

HDFC Bank’s market valuation eroded by ₹27,866.34 crore to ₹8,12,338.57 crore and that of HDFC tumbled ₹14,631.11 crore to ₹4,31,028.49 crore.

The m-cap of Tata Consultancy Services (TCS) tanked ₹9,348.88 crore to stand at ₹13,39,688.48 crore.

The valuation of Hindustan Unilever (HUL) declined by ₹7,119.26 crore to ₹5,05,737.77 crore and that of Bajaj Finance diped by ₹2,125.05 crore to ₹4,43,685.79 crore.

In contrast, the new entrant Adani Green Energy added ₹84,581.99 crore, taking its valuation to ₹4,48,050.99 crore.

ICICI Bank’s market capitalisation jumped ₹5,559.02 crore to ₹5,29,739.59 crore and that of State Bank of India (SBI) rose ₹1,249.45 crore to ₹4,61,848.65 crore.

In the ranking of top-10 firms, Reliance Industries maintained its top position, followed by TCS, HDFC Bank, Infosys, ICICI Bank, HUL, SBI, Adani Green Energy, Bajaj Finance and HDFC.

Stock markets were closed on Thursday for Mahavir Jayanti and Dr Babasaheb Ambedkar Jayanti, as well as on Friday on account of Good Friday.