Billionaire Gautam Adani and his companies have hired legal and communication teams, cut expenses and repaid debt as they seek to calm traders concerned about the group's access to financing
The combined market valuation of the top 10 valued firms eroded by Rs 1,68,552.42 crore last week, with Reliance Industries taking the biggest hit in an overall weak broader market. Last week, the Sensex tumbled 1,492.52 points or 2.43 per cent. Market sentiment remained weak amid surging COVID cases in China and a few other nations, while stronger US growth data cemented expectations of the Federal Reserve continuing with its hawkish stance. Reliance Industries' valuation tanked Rs 42,994.44 crore to Rs 16,92,411.37 crore. State Bank of India's market valuation tumbled Rs 26,193.74 crore to Rs 5,12,228.09 crore. The valuation of HDFC Bank eroded by Rs 22,755.96 crore to Rs 8,90,970.33 crore and that of Life Insurance Corporation of India (LIC) plunged Rs 18,690.03 crore to Rs 4,16,848.97 crore. The market capitalisation (mcap) of ICICI Bank diminished by Rs 16,014.14 crore to Rs 6,13,366.40 crore and that of Hindustan Unilever declined by Rs 11,877.18 crore to Rs 6,15,557.67 ...
Nine of the 10 most valued firms together added over Rs 2.12 lakh crore in their market valuation last week, with HDFC Bank and TCS emerging as the lead gainers. Last week, the 30-share BSE benchmark jumped 844.68 points or 1.38 per cent. The stock markets were closed on Tuesday for Guru Nanak Jayanti. From the top-10 pack, Hindustan Unilever Ltd (HUL) was the only laggard. The top 9 firms added a total of Rs 2,12,478.82 crore to their market valuation last week. Among the winners, HDFC Bank added Rs 63,462.58 crore, taking its valuation to Rs 8,97,980.25 crore. Tata Consultancy Services' valuation jumped Rs 36,517.34 crore to reach Rs 12,13,378.03 crore. The market valuation of HDFC advanced Rs 29,422.52 crore to Rs 4,81,818.83 crore and that of Reliance Industries climbed Rs 26,317.30 crore to Rs 17,80,206.22 crore. The market capitalisation (m-cap) of Infosys rose by Rs 23,626.96 crore to Rs 6,60,650.10 crore and Adani Enterprises surged by Rs 20,103.92 crore to Rs 4,56,992.
The mutual fund company had earlier cut down the valuation of Paytm to $188 a share due to the impact of the Covid-19 pandemic
Among gainers, valuation of Reliance Industries Ltd zoomed Rs 35,946.06 cr to Rs 4,84,743.42 cr
TCS' valuation surged Rs 7,793.04 cr to Rs 4,64,922.47 cr, becoming biggest gainer in top-10 list