ONGC, Six Other Firms Lose Rs 72,452 Crore Market Value
New Delhi: Combined market valuation of seven of the 10 most valued Indian companies plummeted by Rs 72,452.27 crore during the week that ended on November 4, with Oil and Natural Gas Corporation (ONGC) emerging as the worst hit.
While Tata Consultancy Services (TCS), Reliance Industries Ltd (RIL), HDFC Bank, ONGC, Infosys, Coal India Ltd (CIL) and State Bank of India (SBI) suffered losses in their market capitalisation or M-Cap for the week, ITC, HDFC and Hindustan Unilever Ltd (HUL), on the other hand, witnessed gains.
The market valuation of ONGC plunged by Rs 17,367.65 crore to Rs 2,30,698.79 crore.
The M-Cap of RIL tanked by Rs 14,724.35 crore to Rs 3,26,205.83 crore while that of TCS tumbled by Rs 12,709.26 crore to Rs 4,59,129.41 crore.
SBI's market capitalisation dropped by Rs 11,644.17 crore to Rs 1,88,519.04 crore.
The market valuation of Infosys went down by Rs 7,281.31 crore to Rs 2,22,987.39 crore while that of CIL decreased by Rs 6,632.18 crore to Rs 1,99,281.30 crore.
HDFC Bank's market capitalisation lowered by Rs 2,093.35 crore to Rs 3,17,052.75 crore.
On the other hand, the M-Cap of ITC surged by Rs 8,722.84 crore to Rs 3,01,786 crore while that of HUL rose by Rs 1,547.46 crore to Rs 1,83,400.64 crore.
HDFC's market value rose by a mild Rs 23.76 crore to Rs 2,18,747.29 crore.
In the ranking of top 10 firms, TCS held its top position, followed by RIL, HDFC Bank, ITC, ONGC, Infosys, HDFC, Coal India, SBI and Hindustan Unilever.
Over the first week of the new 'Samvat 2073', the Sensex and Nifty both recorded losses by plunging 667.36 points, or 2.38 per cent, and 204.25 points, or 0.36 per cent, respectively.
