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The new-age companies can raise hundreds of millions of dollars on the back of lofty market valuations, only to collapse when they cannot figure out how to turn profitable.
The market capitalisation (m-cap) of RIL dropped Rs 75,961.53 crore to reach Rs 15,68,550.17 crore.
The m-cap of RIL tumbled by Rs 56,741.2 crore to reach Rs 16,09,686.75 crore, while that of HDFC Bank saw an erosion of Rs 54,843.3 crore in its worth at Rs 8,76,528.42 crore.
HUL's market valuation eroded by 45,523.33 crore to Rs 5,76,836.40 crore. RIL's m-cap tumbled 45,126.6 crore to reach 16,66,427.95 crore and TCS's market worth tumbled by Rs 41,151.94 crore to Rs 12,94,686.48 crore.
HUL's market valuation eroded by 45,523.33 crore to Rs 5,76,836.40 crore. RIL's m-cap tumbled 45,126.6 crore to reach 16,66,427.95 crore and TCS's market worth tumbled by Rs 41,151.94 crore to Rs 12,94,686.48 crore.