Three of top-10 companies lose Rs 1 lakh cr in m-cap; TCS hit hard

Agencies
October 14, 2018

New Delhi, Oct 14: Three of the 10 most valued Indian companies together witnessed an erosion of Rs 1,07,026.12 crore in market capitalisation last week, with IT major TCS taking the biggest knock.

Tata Consultancy Services (TCS), ITC and Infosys suffered a decline in their valuation for the week ended Friday, whereas RIL, HDFC Bank, Hindustan Unilever Ltd (HUL), HDFC, SBI, Kotak Mahindra Bank and Maruti Suzuki India finished with gains.

The cumulative erosion suffered by the three companies was higher than the combined gain of Rs 97,498.38 crore made by the rest of the seven firms.

The valuation of TCS nosedived by Rs 85,330.17 crore to Rs 7,19,857.48 crore.

Shares of TCS Friday ended over 3 per cent lower even as the company reported a 22.6 per cent jump in consolidated net profit for the July-September quarter.

The m-cap of Infosys slumped Rs 18,696.68 crore to Rs 2,96,635.05 crore and that of ITC fell by Rs 2,999.27 crore to Rs 3,36,285.40 crore.

From the gainers side, Reliance Industries Ltd (RIL) emerged as the biggest winner as its market cap soared by Rs 48,524.59 crore to Rs 7,13,965.75 crore.

Kotak Mahindra Bank's valuation jumped Rs 22,130.78 crore to Rs 2,23,005.06 crore and that of Maruti surged Rs 11,782.63 crore to Rs 2,20,006.42 crore.

The m-cap of State Bank of India (SBI) zoomed Rs 4,953.14 crore to Rs 2,35,029.01 crore and that of HDFC Bank rose by Rs 4,388.24 crore to Rs 5,37,729.17 crore.

HDFC added Rs 3,727.52 crore to reach Rs 2,94,247.71 crore in market valuation and HUL gained Rs 1,991.48 crore to Rs 3,39,557.66 crore.

Over the last week, the Sensex climbed 366.59 points to close at 34,733.58 on Friday.

In the ranking of the top-10 firms, TCS was at the number one position, followed by RIL, HDFC Bank, HUL, ITC, Infosys, HDFC, SBI, Kotak Mahindra Bank and Maruti.

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News Network
July 20,2020

New Delhi, Jul 20: India's COVID-19 case tally crossed the 11 lakh mark with the highest single-day spike of 40,425 new cases and 681 deaths reported in the last 24 hours, informed the Union Health and Family Welfare Ministry on Monday.

Total cases in the country now stand at 11,18,043 while the death toll is 27,497.
The Health Ministry said the total number of cases includes 3,90,459 active cases and 7,00,087 patients have been cured/discharged/migrated.

Maharashtra remains the worst affected state with 3,10,455 cases reported until Sunday.
Meanwhile, as per the information provided by the Indian Council of Medical Research (ICMR), 1,40,47,908 samples have been tested for COVID-19 till July 19, of these 2,56,039 samples were tested yesterday.

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News Network
July 3,2020

Leh, Jul 3: Taking an apparent dig at China, Prime Minister Narendra Modi on Friday said the age of expansionism is over and added that the new age of development is here.

"Age of expansionism is over, this is the age of development. History is witness that expansionist forces have either lost or were forced to turn back," Modi said addressing soldiers in Ladakh's Nimmoo. However, the Prime Minister did not mention China at all in his address to the soldiers.

The remark comes amidst the ongoing tension between India and China at Line of Actual Control in the eastern Ladakh. In a violent face-off 20 Indian soldiers were killed in the Galwan Valley on June 15-16 when Chinese troops attempted to unilaterally change the status quo during the de-escalation.

The Prime Minister also said that the people of Ladakh have rejected every attempt to create separatism in the region.

"Ladakh is the head of the country. This is the symbol of pride for the 130 crore citizens of India. This land belongs to the people who are willing to make the ultimate sacrifice for the country... Every attempt to create separatism in the region was rejected by the nationalist people of Ladakh," Modi said.

He also said: "We are the same people who pray to the flute playing Lord Krishna, but we are also the same people who idealise and following the same Lord Krishna who carries the Sudarshan Chakra."

The two countries -- India and China -- have been involved in talks to ease the ongoing border tensions since last month.

Lauding the bravery displayed by the soldiers, the Prime Minister said: "The bravery that you and your compatriots showed, a message has gone to the world about India's strength."

"Your courage is higher than the heights where you are posted today," he added.

"Atmanirbhar Bharat ka sankalp aapke tyag, balidan, pursharth ke karan aur bhi mazbut hai,"(The determination of self-reliant India gets strengthened from your sacrifice and courage)," the Prime Minister said.

The soldiers were observed maintaining social distancing while PM Modi's address here.

PM Modi on Friday made a surprise visit to Ladakh and was briefed by senior officers at Nimmoo amid ongoing tension with China. The Prime Minister was accompanied by Chief of Defence Staff (CDS) General Bipin Rawat and Army Chief General Manoj Mukund Naravane.

He reached Nimmoo, early morning today and interacted with Army, Air Force and ITBP personnel.

Located at 11,000 feet, this is among the tough terrains, surrounded by Zanskar range and on the banks of the Indus.

Sources had earlier informed about CDS Rawat's visit to Leh today. General Rawat's visit holds importance since it comes in the wake of Defence Minister Rajnath Singh's visit to Ladakh being rescheduled.

Earlier, the Defence Minister was scheduled to visit Ladakh today to review the preparedness of the army amid the ongoing standoff with China.

The situation at the India-China border remains tense after 20 Indian soldiers lost their lives in a violent face-off in the Galwan valley on June 15-16 when Chinese troops attempted to unilaterally change the status quo during the de-escalation. India and China have been involved in talks to ease the ongoing border tensions since last month.

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News Network
February 27,2020

New Delhi, Feb 27: An Indian Air Force aircraft on Thursday evacuated 76 Indians and 36 foreign nationals from the coronavirus-hit Chinese city of Wuhan.

The C-17 Globemaster III transport aircraft was sent to Wuhan on Wednesday and it carried 15 tonnes of medical supplies for coronavirus-affected people in China.

On its return, the aircraft brought back 112 people, including 23 citizens from Bangladesh, six from China, two each from Myanmar and the Maldives and one each from South Africa, the US and Madagascar.

Earlier, India had evacuated around 650 Indians from Wuhan in two Air India flights.

“In all 723 Indian nationals and 43 foreign nationals have been evacuated from Wuhan, China, in these three flights,” the Ministry of External Affairs (MEA) said.

On the medical supplies delivered by India to China, the MEA said they would help augment the country’s efforts to control the coronavirus outbreak which had been declared as a public health emergency by the World Health Organisation.

“The assistance is also a mark of friendship and solidarity from the people of India towards the people of China as the two countries also celebrate 70th anniversary of establishment of diplomatic relations this year,” it said.

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