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Loss of Rs 4.2 lakh crore in m-cap; Reliance, TCS affected due to CoronaVirus

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Loss of Rs 4.2 lakh crore in m-cap; Reliance, TCS affected due to CoronaVirus

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Economic loss due to coronavirus

The 10 most valued domestic companies lost a massive Rs 4,22,393.44 crore in market capitalisation last week, with heavyweights TCS and RIL taking the biggest hit.

In a nerve-wracking week for the markets, the BSE Sensex plummeted 3,473.14 points or 9.24%, largely in tandem with global equities which were hammered by panic selling amid the coronavirus pandemic.

The market capitalization (m-cap) of TCS dropped by Rs 1,16,549.07 crore to reach R s6,78,168.49 crore for the week ended on Friday.

Reliance Industries’ m-cap plummeted Rs 1,03,425.15 crore to Rs 7,01,693.52 crore.

Infosys was another major drag, with its valuation plunging Rs 41,315.98 crore to Rs 2,73,505.62 crore.

HDFC Bank’s m-cap tanked Rs34,919.51 crore to reach Rs 5,87,190.43 crore and that of Hindustan Unilever Limited tumbled Rs 33,208.35 crore to Rs 4,40,151.42 crore.

The valuation of Kotak Mahindra Bank declined Rs 30,931.1 crore to Rs 2,81,237.76 crore and that of ICICI Bank fell Rs25,098.54 crore to Rs 2,89,606.69 crore.

Likewise, Bajaj Finance witnessed a drop of Rs 16,320.81 crore in its m-cap to reach Rs 2,37,989.09 crore.

Bharti Airtel suffered a decline of Rs 13,611.62 crore in its valuation to stand at Rs 2,69,613.64 crore. The market-cap of HDFC fell by Rs 7,013.31 crore to Rs 3,58,201.28 crore.

In the ranking of the 10 most valued firms, RIL remained at the top, followed by TCS, HDFC Bank, HUL, HDFC, ICICI Bank, Kotak Mahindra Bank, Infosys, Bharti Airtel and Bajaj Finance.

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