Top 6 Firms lose Rs 26K cr in Mcap, Infosys knock Hard

The combined market value of 6 of the top 10 most valued Indian companies took a knock of Rs 26,191.04 crore last week, with Infosys taking the biggest hit.

TCS, Reliance, HDFC Bank, Infosys, SBI and HUL witnessed erosion of their market capitalization or M-Cap for the week.

ITC, ONGC, HDFC and Coal India (CIL) racked up gains.

• Infosys- The market capitalization of Infosys dipped by Rs 8,177.13 crore to Rs 2,30,268.70 crore. On 1st Nov, Infosys share price touched its new 52 week low value at Rs. 989.20. The stock is trading at Rs. 992.45. The stock was down 2.6 per cent against 0.95 per cent rise in the Sensex, since October 14, after the India’s second-largest software exporter has cut its annual revenue forecast for the second time in three months.
• TCS & RIL- The Market cap of TCS plunged by Rs 6,719.16 crore to Rs 4,71,838.67 crore. TCS share price dipped 0.70 per cent intraday on Tuesday. TCS disclosed an 8.4 per cent rise in consolidated net profit to Rs 6,586 crore for the second quarter ended September 30 and announced uncertainties in environment had resulted in holdbacks in discretionary spend by customers.

On the other hand, RIL tanked by Rs 4,281.08 crore to Rs 3,40,930.18 crore. RIL share price is seen to trade at Rs. 1052.60.

HDFC Bank- It’s M-Cap rallied down by Rs 4,238.48 crore to Rs 3,19,146.10 crore. The stock opened at Rs. 1256.00.

HUL- The market capitalization of HUL fell by Rs 2,348.24 crore to Rs 1,81,853.18 crore. The scrip is trading at Rs. 838.00.

SBI-The M-Cap of SBI fell by Rs 426.95 crore to Rs 2,00,163.21 crore. Meanwhile, SBI 0.51 announced a cut of 0.15 per cent in their lending rates respectively under a new system of computation, signaling a further dip in borrowing costs ahead of the busy season.

ONGC- On the other hand, ONGC’s valuation surged by Rs 8,512.72 crore to Rs 2,48,066.44 crore. Today, the stock is trading below 0.61 per cent.

CIL and HDFC- The market value of CIL increased by Rs 8,021.78 crore to Rs 2,05,913.48 crore whereas that of HDFC went up by Rs 7,024.94 crore to Rs 2,18,723.53 crore.

ITC- The Market cap of ITC rose by Rs 2,567.4 crore to Rs 2,93,063.16 crore. The scrip rolled above 0.08 per cent.

In the ranking of top 10 firms on the domestic market cap chart, TCS maintained its top position, followed by RIL, HDFC Bank, ITC, ONGC, Infosys, HDFC, CIL, SBI and HUL. For the past week, the Sensex dropped 135.67 points, or 0.48 per cent, while the Nifty lost 55.05 points, or 0.63 per cent.

Resource: https://www.dynamiclevels.com/en/blog/top-6-firms-lose-rs-26k-cr-in-mcap-infosys-knock-hard