More losers than gainers in m-cap play; TCS, RIL badly hit
Six of the 10 most-valued Indian companies saw a cumulative erosion of Rs 47,463 crore in market valuation last week, with TCS and RIL taking the hardest knock. IT major TCS' market capitalisation (m-cap) tumbled as much as Rs 19,556.5 crore to Rs 4,58,686.07 crore, the worst hit in the group.
For RIL, the fall was Rs 13,387.62 crore. With a market cap of Rs 4,43,595.61 crore, the Mukesh Ambani-led firm is fast narrowing the gap with the top-ranked TCS. RIL's valuation is just Rs 15,090.46 crore less than that of TCS. The final picture showed TCS leading the ranking chart of market cap, followed by RIL, HDFC Bank, ITC, ONGC, SBI, HDFC, Infosys, IOC and HUL, in that order.
While TCS, RIL, ONGC, HDFC, Infosys and HUL lost out, the market capitalisation (m-cap) of HDFC Bank, ITC, SBI and IOC advanced for the week to Thursday. The markets were shut on Friday because of Baba Ambedkar Jayanti and Good Friday. For RIL, the fall was Rs 13,387.62 crore at Rs 4,43,595.61 crore and that of Infosys came down by Rs 11,450.27 crore to Rs 2,13,937.43 crore.