Big Boys Club: Net Valuation Plummets; Infy, SBI, TCS Among Top Laggards

By Malvika Gurung

Investing.com -- The domestic market indices declined in the March 17-ended week, with benchmarks Nifty50 and Sensex falling almost 1% each, led majorly by the developments around the global banking crisis.

The country’s top 10 most-valued companies witnessed their net cumulative market valuation erased by a whopping Rs 61,163.28 crore, as five stocks added wealth to their market caps, while the remaining five wiped out their valuations significantly.

IT bellwethers Infosys (NS: INFY ) and Tata Consultancy Services (NS: TCS ) marked the biggest wealth erosions in the week ending on March 24, followed by the public sector lender State Bank of India (NS: SBI ). The five stocks witnessed their valuations wiped out by a total of Rs 86,447.12 crore.

On the other hand, private sector lender ICICI Bank (NS: ICBK ) added the biggest share to its market valuation last week, followed by Hindustan Unilever (NS: HLL ).

Here’s how the m-caps of giants of the elite Big Boys club performed last week.

• Infosys’ m-cap shed Rs 25,217.2 crore.
• SBI’s wealth plummeted by Rs 21,062.08 crore.
• TCS’ valuation nosedived by Rs 21,039.55 crore.
• RIL’s (NS: RELI ) lost a massive Rs 13,226.53 crore from its wealth.
• HDFC Bank’s (NS: HDBK ) m-cap tanked by Rs 5,901.76 crore.
• ICICI Bank’s valuation rallied by Rs 10,905.18 crore.
• HUL’s wealth soared by Rs 7,542.19 crore.
• ITC (NS: ITC ) added Rs 3,664.01 crore to its wealth.
• Bharti Airtel’s (NS: BRTI ) m-cap zoomed by Rs 2,787.57 crore.
• HDFC’s (NS: HDFC ) wealth surged by Rs 384.89 crore.

Read Also: Nifty Weekly Review and Outlook, Key Levels