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Top Three Companies Lose Rs 51,472 Crore In Market Cap

By Religare

Led by TCS, three of the top 10 most valued Indian companies together witnessed an erosion of Rs 51,472.27 crore from their market capitalisation last week.

The rest seven companies saw rise in their valuation.

Top Three Companies Lose Rs 51,472 Crore In Market Cap

However, their cumulative gain was less than the total loss suffered by the three companies - TCS, Infosys and Sun Pharma.

TCS, country's largest software services firm, saw its market valuation slump by Rs 30,324.88 crore to Rs 4,87,868.11 crore, taking the steepest hit in the top 10 list.

The company's September-quarter earnings, released early last week, failed to boost investors.

The market capitalisation of Infosys tumbled by Rs 17,020.36 crore to Rs 2,51,228.32 crore and Sun Pharma lost Rs 4,127.03 crore to Rs 2,13,980.32 crore.

Infosys had announced its second quarter earnings on Monday wherein the company cut its dollar revenue guidance for the current fiscal.

Meanwhile, in stark contrast, the combined market valuation of top seven Sensex companies rose by Rs 36,413.3 crore, where SBI emerged as the biggest gainer.

The market valuation of SBI surged by Rs 13,862.78 crore to Rs 1,97,873.19 crore.

RIL's market capitalisation jumped by Rs 8,371.33 crore to Rs 2,95,409.35 crore while that of ITC went up by Rs 4,494.84 crore to Rs 2,80,004.28 crore.

The valuation of HDFC Bank soared by Rs 3,512.88 crore to Rs 2,76,938.30 crore while mortgage lender HDFC added Rs 3,376.23 crore to Rs 2,07,007.20 crore.

Similarly, the market capitalisation of CIL rose by Rs 1,768.58 crore to Rs 2,13,777.35 crore while that of ONGC gained Rs 1,026.66 crore to Rs 2,26,164.38 crore.

Dion Global Solutions

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