Six of top-10 firms lose Rs 1.68 lakh cr in M-cap; TCS biggest laggard

Six of the 10 most valued firms suffered a combined erosion of Rs 1,68,260.37 crore from their market valuation last week, mainly dragged down by IT major TCS amid an overall weak trend in the equity market.

The 30-share BSE benchmark Sensex fell 721.06 points or 1.32 per cent last week.

From the laggards, Tata Consultancy Services (TCS) took the biggest hit as its market valuation tumbled Rs 99,270.07 crore to reach Rs 10,95,355.32 crore. Shares of TCS dropped last week after the company’s June quarter earnings failed to meet market expectations.

Another IT behemoth Infosys also suffered an erosion of Rs 35,133.64 crore, taking its valuation to Rs 6,01,900.14 crore.