Eight of the top-10 most valued firms together lost Rs 2,21,555.61 crore from their market valuation last week in line with the weak trend in the broader market, with Infosys and HDFC Bank suffering the biggest hit. The 30-share benchmark index, Sensex, lost 1,141.78 points or 1.95 per cent last week.
From the top-10 pack, only Reliance Industries and Adani Green Energy emerged as the gainers. The market valuation of Infosys tumbled Rs 68,548.8 crore to Rs 6,67,062.55 crore.
The market capitalisation (mcap) of HDFC Bank dived Rs 60,536.97 crore to reach Rs 7,51,801.60 crore. Bharti Airtel’s valuation tanked Rs 30,127.49 crore to Rs 4,05,723.51 crore and that of Tata Consultancy Services plummeted by Rs 18,094.01 crore to Rs 13,21,594.47 crore.
The valuation of State Bank of India declined by Rs 15,261.09 crore to Rs 4,46,587.56 crore and that of Bajaj Finance went lower by Rs 13,264.96 crore to Rs 4,30,420.83 crore. The mcap of ICICI Bank dipped Rs 10,376.97 crore to Rs 5,19,362.62 crore and that of Hindustan Unilever Limited slumped Rs 5,345.32 crore to Rs 5,00,392.45 crore.
In contrast, the market valuation of Reliance Industries zoomed Rs 1,39,357.52 crore to reach Rs 18,66,071.57 crore. The market capitalisation of Adani Green went higher by Rs 3,698.89 crore to Rs 4,51,749.88 crore.
Meanwhile, housing finance company HDFC has been knocked out of the country’s 10 most-valued companies in terms of market capitalisation following a significant decline in its share price. During the week ended April 22, shares of the company tumbled 7.19 per cent.
On April 4, HDFC announced that it will merge operations with HDFC Bank. Once the deal is effective, HDFC Bank will be wholly owned by public shareholders, and existing shareholders of HDFC will own 41 per cent of the bank. The shares of HDFC have tumbled nearly 18 per cent since the merger announcement.
In the ranking of top-10 firms, Reliance Industries was leading the chart, followed by TCS, HDFC Bank, Infosys, ICICI Bank, Hindustan Unilever, Adani Green Energy, State Bank of India, Bajaj Finance and Bharti Airtel.
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