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Top Three Companies Lose Rs 51,472 Cr In M-Cap

Monday, October 19, 2015
By A Business Reporter

Led by TCS, three of the top 10 most valued Indian companies together witnessed an erosion of Rs 51,472.27 crore from their market capitalisation last week. The rest seven companies saw a rise in their valuation. However, their cumulative gain was less than the total loss suffered by the three companies - TCS, Infosys and Sun Pharma.

TCS, saw its market valuation slump by Rs 30,324.88 crore to Rs 4,87,868.11 crore, taking the steepest hit in the top 10 list. The company's September-quarter earnings, released early last week, failed to enthuse investors. The market capitalisation of Infosys tumbled by Rs 17,020.36 crore to Rs 2,51,228.32 crore and Sun Pharma lost Rs 4,127.03 crore to Rs 2,13,980.32 crore.

Infosys had announced its second quarter earnings on Monday wherein the company cut its dollar revenue guidance for the current fiscal. Meanwhile, in stark contrast, the combined market valuation of top seven Sensex companies rose by Rs 36,413.3 crore, where SBI emerged as the biggest gainer.

The ranking of top 10 firms in terms of market valuation was led by TCS, followed by RIL, ITC, HDFC Bank, Infosys, ONGC, Sun Pharma, CIL, HDFC and SBI.

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