The combined market valuation of the 10 most valued Indian companies slumped by Rs 1,11,986.87 crore last week, with Tata Consultancy Services (TCS) taking the steepest hit. Over the last week, the BSE Sensex recorded a steep fall of 1,060.99 points or 3.02 per cent as sentiment was hit by the imposition of long-term capital gains tax on equities as well as the global markets turmoil.
TCS, the country’s most valued firm, suffered a loss of Rs 33,854.18 crore in its market capitalisation (m-cap) to reach Rs 5,68,983.70 crore. HDFC Bank’s valuation dropped Rs 24,935.67 crore to Rs 4,80,206 crore and that of HDFC slumped Rs 20,733.18 crore to Rs 2,83,336.41 crore. The m-cap of Hindustan Unilever (HUL) plunged Rs 8,073.5 crore to Rs 2,89,044.47 crore.
The valuation of Infosys dived Rs 6,514.19 crore to Rs 2,42,827.36 crore and that of ONGC declined by Rs 6,031.62 crore to Rs 2,40,943.99 crore. The market cap of Reliance Industries Limited (RIL) eroded by Rs 4,908.95 crore to Rs 5,68,773.21 crore and that of ITC slumped Rs 4,877.27 crore to Rs 3,30,800.77 crore.
Similarly, the valuation of Maruti Suzuki India tumbled by Rs 1,626.7 crore to Rs 2,70,254.42 crore and that of SBI dipped Rs 431.61 crore to Rs 2,55,854.07 crore. In the ranking of top-10 firms, TCS stood at number one position, followed by RIL, HDFC Bank, ITC, HUL, HDFC, Maruti, SBI, Infosys and ONGC.