This has been a long weekend and don’t we just love long weekends?
Anyhow, it appears that the same cannot be said for the top ranking companies of the country. Heavy losses were suffered by these companies in the past week, dragging their valuation down terribly. Nine of the top ten most valued companies in India suffered a combined loss of ?84,354.1 crore in their market valuation, as per last week.
During this holiday-curtailed week, the BSE Sensex lost 231.58 points.
TCS Couldn’t Survive this Time
The IT major company of India, Tata Consultancy Services (TCS) has been well-known to stand still and not waver during times which are rough not only monetarily but also internally. This time however, among the top 10 companies, TCS has been the one which has had the most devastating blow.
It closed off last week with heavy losses. Its m-cap incurred the worst fall with ?30,807.1 crore to ?8,11,828.43 crore for the week ending on Friday. It also marked the 1st position in this list.
And yes, there’s a list.
Reliance Is the Only Firm to have Recorded Gain
Now that it’s been established that these 10 most valued companies of the country have combinedly incurred over ?84,354.1 crore of their market valuation in losses, it comes as a light that Reliance Industries Ltd has been the only company among these 10 to have not provided the market with loss.
In fact, RIL recorded a gain in its market valuation. Its market capitalization buzzed up by ?72,153.08 crore to ?8,09,755.16 crore as the market shut down on Friday, after the announcement of a host of investor-friendly proposals at its annual general meeting early last week.
Let’s Have a Look at this List and Their Performances
As per data provided to us, these 10 companies and their catastrophic loss has been illustrated below:
- HDFC‘s valuation fell ?19,495.4 crore to ?3,62,123.92 crore.
- HDFC Bank fell by ?15,065.8 crore to ?6,08,826.25 crore.
- Infosys eroded by ?6,700.27 crore to ?3,32,672.51 crore
- Kotak Mahindra Bank declined ?6,525.48 crore to?2,86,340.99 crore.
- Hindustan Unilever Ltd (HUL) fell by ?2,954.95 crore to ?3,95,335.97 crore.
- ITC dipped ?1,657.41 crore to ?3,10,488.97 crore.
- ICICI’s valuation fell by ?790.71 crore to?2,70,569.37 crore.
- SBI went lower by ?356.99 crore to ?2,59,661.57 crore.
- TCS tanked ?30,807.1 crore to ?8,11,828.43 crore.
- RIL zoomed ?72,153.08 crore to ?8,09,755.16 crore.