Nine Most Valued Firms Lose Rs 2 Lakh Cr In Mcap As Markets Tumble

From the top-10 pack, HDFC Bank emerged as the only winner. HUL eroded by Rs 44,196 crore to nearly Rs 6 lakh crore.

New Delhi: Nine of the top-10 most valued firms together lost a whopping Rs 2 lakh crore from market valuation last week, in line with weak trends in equities, with Hindustan Unilever (HUL) and Reliance Industries (RIL) Limited taking the biggest hit.

Last week, the BSE benchmark tanked 1,822.46 points or 2.24 per cent.

"The dismal Q2 earnings so far have aggravated the investors' woes while persistent FII selling continued to create havoc in the market," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd., said.

From the top-10 pack, HDFC Bank emerged as the only winner. The valuation of Hindustan Unilever eroded by Rs 44,196 crore to nearly Rs 6 lakh crore.

Reliance Industries' valuation tumbled Rs 41,995 crore to nearly Rs 18 lakh crore. SBI plummeted by Rs 35,118 crore to nearly Rs seven lakh crore while Bharti Airtel tanked by Rs 24,109 crore to Rs 9.5 lakh crore.

Tata Consultancy Services (TCS) dropped by Rs 23, 138 crore to Rs 14.6 lakh crore while Life Insurance Corporation of India (LIC) decreased by Rs 19,797 crore to Rs 5.7 lakh crore and Infosys plummated by Rs 10,629 crore to Rs 7.7 lakh crore.

ITC eroded Rs 5,691 crore in Mcap to Rs 6 lakh crore and ICICI Bank went lower by Rs 5,280 crore to Rs 8.8 lakh crore.

On the positive side, the Mcap of HDFC Bank jumped Rs 46,891 crore to Rs 13.3 lakh crore.

RIL retained the title of the most valued firm, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, SBI, ITC and HUL.