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Three of top 10 firms lose Rs 73,630 crore in m-cap
Last week, the Sensex climbed 179.95 points or 0.34 per cent, while the Nifty gained 52.80 points or 0.33 per cent.

Three of top 10 firms lose Rs 73,630 crore in m-cap

Image: Business Standard

The combined market valuation of three of the 10 most valued domestic firms eroded by Rs 73,630.56 crore last week, with Reliance Industries Limited taking the biggest hit.

While HUL and ICICI Bank were the other laggards from the top-10 pack, TCS, HDFC Bank, Infosys, LIC, SBI, HDFC, and Bharti Airtel were the gainers.

However, the combined gain of the seven firms at Rs 49,441.05 crore was less than the total loss suffered by the three companies.

The Sensex rose by 179.95 points, or 0.34 percent, last week, while the Nifty rose by 52.80 points, or 0.33 percent.

Reliance Industries Ltd. (Reliance )’s value dropped by Rs 62,100.95 crore to Rs 16,29,684.50 crore.

The valuation of Hindustan Unilever Ltd (HUL) decreased by Rs 4,875.41 crore to Rs 5,36,364.69 crore, while that of ICICI Bank decreased by Rs 6,654.2 crore to Rs 4,89,700.16 crore.

One of the gainers was Infosys, whose market value increased by Rs 15,172.88 crore to Rs 6,21,907.38 crore.

State Bank of India’s (SBI) market capitalization (m-cap) increased by Rs 11,200.38 crore to Rs 4,16,690.11 crore.

The value of TCS increased by Rs 8,489 crore to Rs 12,13,396.32 crore, while that of Life Insurance Corporation of India (LIC) increased by Rs 9,519.12 crore to Rs 4,28,044.22 crore.

In order to reach a valuation of Rs 4,01,114.96 crore, HDFC added Rs 3,924.46 crore.

Bharti Airtel’s market capitalization increased by Rs 1,043.49 billion to Rs 3,69,833.12 billion, and that of HDFC Bank increased by Rs 91.72 billion to Rs 7,51,892.03 billion.

Reliance Industries maintained its top spot in the list of the top-10 companies, followed by TCS, HDFC Bank, Infosys, HUL, ICICI Bank, LIC, SBI, HDFC, and Bharti Airtel.

Some Movers Last Week

The markets remained in consolidation mode and ended with marginal gains in the week ended July 1 amid a falling rupee, persistent FII selling, auto sales numbers, second-highest monthly GST collection, and mixed global cues.

For the week, the Sensex was up 179.95 points (0.34 percent) at 52,907.93, while the Nifty50 was up 52.75 points (0.33 percent) at 15,752. The Sensex lost 4.5 percent and the Nifty shed 4.8 percent in June as concerns mount for the global economy.

Bajaj Auto

The share price slipped 5 percent after the company reported weak two-wheeler sales for June. Bajaj Auto’s domestic two-wheeler sales fell 20 percent year-on-year to 125,083 units in the month even though the year-ago period was partially affected by the second wave of the COVID-19 pandemic.

Titan Company

The scrip was down 5 percent after the government increased the import tax on gold to 12.5 percent from 7.5 percent. The decision was taken to curb imports, as the rupee slumped to a record low. India is the world’s second-biggest consumer of gold.

Zomato

The stock fell over 20 percent in the week gone by. The firm informed the bourses that its board had given its approval for the acquisition of up to 33,018 equity shares of quick commerce company Blink Commerce (BCPL) (formerly Grofers India) for Rs 4,447.48 crore in an all-stock deal.

Indian Energy Exchange

The stock price was down over 8 percent in the week gone by even as the operations at India’s third power exchange Hindustan Power Exchange (HPX) look imminent, with final approval from the Central Electricity Regulatory Commission (CERC) on June 27

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