After Indian equities saw steep decline, the worst hit among the countries top 10 companies were Reliance Industries and HDFC Bank while seven other firms in the elite club also saw heavy erosion in their valuation.
Infosys was the lone star last week after its mcap jumped by Rs 4,629.64 crore to record Rs 7,96,527.08 crore in valuation. The remaining nine companies in the Top 10 pack together saw their market capitalisation evaporating by Rs 4,74,906.18 crore last week.
Markets faced heavy drubbing last week amid worsening tensions in the Middle East and foreign fund outflows. In a holiday-shortened week, the BSE benchmark plummeted 3,883.4 points, or 4.53 per cent.
Mukesh Ambani-owned Reliance Industries, the largest company in India, plummeted by Rs 1,88,479.36 crore to Rs 18,76,718.24 crore while the country's biggest private lender, HDFC Bank tumbled Rs 72,919.58 crore to settle at Rs 12,64,267.35 crore.
Telecom major Bharti Airtel tanked Rs 53,800.31 crore to Rs 9,34,104.32 crore while ICICI Bank slumped Rs 47,461.13 crore to Rs 8,73,059.59 crore and Life Insurance Corporation of India (LIC) dipped Rs 33,490.86 crore to Rs 6,14,125.65 crore.
FMCG giants Hindustan Unilever and ITC dropped Rs 27,525.46 crore and Rs 24,139.66 crore respectively to settle at Rs 6,69,363.31 crore and Rs 6,29,695.06 crore.
IT behemoth Tata Consultancy Services (TCS) tanked by Rs 21,690.43 crore to Rs 15,37,361.57 crore and largest public lender State Bank of India decline by Rs 5,399.39 crore to Rs 7,10,934.59 crore.
Reliance Industries is still the most valued company. Ranking by market cap, the remaining firms in Top 10 are TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, Hindustan Unilever, ITC and LIC.
