Nine of top 10 firms lose ₹1.87 lakh crore in market valuation

The market valuation of nine of the top 10 companies in the Indian stock exchange declined last week amid the rout in Adani Group shares.

The valuation of nine firms eroded by ₹1,87,808.26 with HDFC Bank and Reliance Industries taking the biggest hit.

The valuation of the HDFC Bank declined by ₹37,848.16 crore to ₹8,86,070.99 crore at close on Friday. Whereas the market valuation of Reliance Industries (RIL) fell by ₹36,567.46 crore to ₹16,14,109.66 crore.

Besides, valuation of the Tata Consultancy Services (TCS) tumbled ₹36,444.15 crore to ₹12,44,095.76 crore and that of HDFC tanked ₹20,871.15 crore to ₹4,71,365.94 crore.

ICICI Bank's m-cap dipped by ₹15,765.56 crore to ₹5,86,154.58 crore, and State Bank of India (SBI) valuation tanked by ₹ ₹8,879.98 crore to ₹4,64,927.66 crore.

Infosys' m-cap plunged by ₹13,465.86 crore to ₹6,52,862.70 crore. Bharti Airtel's mcap dipped by ₹10,729.2 crore to ₹4,22,034.05 crore.

The valuation of Hindustan Unilever slipped ₹7,236.74 crore to ₹5,83,697.21 crore.

However, ITC was the only company whose market valuation increased last week. ITC added ₹2,143.73 crore taking its mcap to ₹4,77,910.85 crore.