ITC takes the hit as its m-cap drops by ₹20,748.4 crore

It was a dampening week for the market biggies as seven of the 10 most valued domestic companies cumulatively lost ₹86,879.7 crore in market valuation last week. FMCG major ITC took the biggest hit, as its m-cap dropped by ₹20,748.4 crore to stand at ₹2, 89,740.59 crore.

Reliance Industries Ltd (RIL), HDFC Bank, HDFC, Kotak Mahindra Bank, ICICI Bank and SBI were the other firms which witnessed a drop in their market capitalization (m-cap), while TCS, HUL and Infosys finished with gains.

ITC was followed by SBI whose market cap tumbled ₹17,715.4 crore to ₹2, 41,946.22 crore. The m-cap of HDFC Bank tanked ₹17,335.3 crore to ₹5, 91,490.98 crore and that of ICICI Bank declined by ₹15,084.5 crore to ₹2, 55,484.91 crore. HDFC's valuation fell by ₹9,921.2 crore to ₹3, 52,202.72 crore and that of Kotak Mahindra Bank dipped ₹5,155.85 crore to ₹2, 81,185.14 crore.

The m-cap of RIL on the other hand went down by ₹919.16 crore to ₹8, 08,836 crore.

In contrast, the valuation of TCS went up to ₹31,538.79 crore to ₹8, 43,367.22 crore and that of Infosys jumped ₹11,746.94 crore to ₹3, 44,419.45 crore. Hindustan Unilever Ltd (HUL) added ₹7,176.31 crore to its m-cap to reach ₹4, 02,512.28 crore.

In the ranking of top-10 firms, Tata Consultancy Services (TCS) led from the front followed by RIL, HDFC Bank, HUL, HDFC, Infosys, ITC, Kotak Mahindra Bank, ICICI Bank and SBI.