Due to heavy sell-off at Indian stock market last week, 8 out of 10 most-valued companies together logged ₹2,21,555.61 crore dip in their market capital. Infosys and HDFC Bank suffered maximum beating in their market valuation last week as both heavy weights of the market together lost ₹1,29,085.77 crore in last week session. Only Reliance Industries Ltd (RIL) and Adani Green Energy emerged gainers among top 10 most-valued Indian companies of Dalal Street.
The market capital of Infosys crashed ₹68,548.8 crore to ₹6,67,062.55 crore whereas HDFC Bank’s market valuations nosedived ₹60,536.97 crore to ₹7,51,801.60 crore. Market capitalization of Bharti Airtel’s descended ₹30,127.49 crore to ₹4,05,723.51 crore.
Market capital of banking major State Bank of India or SBI declined by ₹15,261.09 crore to ₹4,46,587.56 crore whereas Bajaj Finance went down by ₹13,264.96 crore to ₹4,30,420.83 crore. The market capital of private lender ICICI Bank dipped ₹10,376.97 crore to ₹5,19,362.62 crore while market valuation of Hindustan Unilever Limited slumped ₹5,345.32 crore to ₹5,00,392.45 crore.
However, Reliance Industries and Adani Green Energy continued to grow strong to stronger. After the end of last week trade session, Reliance Industries’ market capital shot up ₹1,39,357.52 crore to ₹18,66,071.57 crore whereas market valuation of Adani Green went higher by ₹3,698.89 crore to ₹4,51,749.88 crore.
Meanwhile, duen to heavy beating in HDFC Ltd shares, the housing finance company has been knocked out from the list of top 10 most-valued companies. During the week ended April 22, shares of the company tumbled 7.19 per cent.
On April 4, HDFC announced that it will merge operations with HDFC Bank. Once the deal is effective, HDFC Bank will be wholly owned by public shareholders, and existing shareholders of HDFC will own 41 per cent of the bank.
The shares of HDFC have tumbled nearly 18 per cent since the merger announcement.
In the ranking of top-10 firms, Reliance Industries was leading the chart, followed by TCS, HDFC Bank, Infosys, ICICI Bank, Hindustan Unilever, Adani Green Energy, State Bank of India, Bajaj Finance and Bharti Airtel.
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