MUMBAI: The country’s top 10 firms lost over Rs 63,000 crore from their market capitalisation last week, with Reliance Industries alone accounting for over one-third of the value erosion of the premier club.

The valuation of Mukesh Ambani-led RIL dipped below Rs two trillion mark after losing Rs 21,624 crore in the previous week.

During the week, the scrip of RIL lost nearly 10 per cent to settle at Rs 1,253.55 on Friday’s trade.

The company, which regained the coveted Rs two trillion turf three weeks back, saw its valuation dipping to Rs 1,97,284 crore last week.

The list, which comprises four private entities and six public sector companies, lost Rs 63,403 crore during the week to end at Rs 10,12,080 crore. Last week, the valuation of the coveted club stood at Rs 10,75,484 crore.

Diversified conglomerate ITC was the lone gainer in the club which added Rs 453 crore in its market valuation, moving up by three places to sixth.

At the end of trade on Friday, ITC’s market capitalisation stood at Rs 67,989 crore.

Meanwhile, the country’s largest lender, SBI, lost Rs 9,358 crore in valuation and dipped to the ninth slot from the previous week’s sixth position.

State-run NTPC witnessed an erosion of Rs 4,205 crore in its market capitalisation, while ONGC lost Rs 6,641 crore from its market valuation last week.

Besides, trading firm MMTC saw its value erode by Rs 5,006 crore and power equipment manufacturer BHEL saw an erosion of Rs 4,986 crore during the last week.

Also mining giant NMDC lost Rs 5,828 crore from its market capitalisation last week.

Private sector telecom services provider Bharti Airtel lost Rs 1,841 crore and IT bellwether Infosys Technologies saw its valuation decline by Rs 4,366 crore.

Besides the list of top 10 most valued firms, two private sector lenders ICICI Bank and HDFC Bank witnessed a combined erosion of over Rs 14,000 crore from its valuation last week.

While ICICI Bank saw its valuation plummeting by Rs 10,955 crore to Rs 37,400 crore, HDFC Bank lost only Rs 3,341 crore to Rs 36,876 crore at the end of trade on Friday.

RIL, the numero-uno in the list of the most valued firm, is followed by NTPC (Rs 1,46,604 crore), ONGC (Rs 1,43,893 crore), Bharti Airtel (Rs 1,21,952 crore), MMTC (Rs 72,834 crore), ITC (Rs 67,989 crore), Infosys (Rs 67,483 crore), BHEL (Rs 66,817 crore), SBI (Rs 66,447 crore) and NMDC (Rs 60,779 crore).

Source : Economic Times

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