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Nine of the top 10 firms lose nearly ₹2.2 lakh crore in market valuation – sources

1Mar

By Nikita DhyaniNo Comments

Business, Finance

Nine of the top 10 firms lose nearly ₹2.2 lakh crore in market valuation – sources

Nine of the 10 most-valued companies lost a whopping ₹2,19,920.71 lakh crore in their total market valuation last week with the barometer Sensex tanking more than 3%. Reliance Industries (RIL) was the only scrip to post gains in its market valuation among the top 10 valued companies. Among losers, Tata Consultancy Services' market valuation tanked Rs 81,506.34 crore to Rs 10,71,263.77 crore. The valuation of HDFC Bank declined by Rs 2,202.12 crore to reach Rs 8,45,552.53 crore. The market capitalization of ICICI Bank dropped by ₹18,098.57 crores to ₹4,13,078.87 crore and that of Hindustan Unilever by ₹11,536.32 crores to ₹5,00,937.14 crore. HDFC’s valuation declined by ₹35,389.88 crores to reach ₹4,57,518.73 crore and that of Infosys by ₹16,613.57 crore to ₹5,33,487.07 crore. ...

LIC Housing Finance disburses Rs 1,331 crore worth of loans via a mobile app

LIC Housing Finance Limited (LICHFL) on Friday said it has disbursed Rs 1,331 crore worth of loans through its mobile banking app in the last year. It said the 'Homy' app facilitated 14,155 customer home loan applications since its launch on February 14. More than 7,300 of these customers have had their home loans sanctioned. Of these, loans were disbursed to 6,884 customers amounting to Rs 1,331 crore so far, it said in a release. “We are thrilled with the massive customer response received over the past year and aim to work towards the ultimate objective of organizing and automating every facet of customer interaction under Project RED (Reimagining Excellence through Digital transformation)," LIC Housing Finance MD and CEO Y Viswanatha Gowd said. The lender's rate of intere...

Indiabulls Housing Finance to raise ₹5,000 crores from securitisation in the current quarter

The mortgage lender is trying to raise Rs 5,000 crore by way of the securitization route in the fourth quarter of the current monetary year, in accordance with a senior firm official. In the three months ended December 31, 2020, it had raised around Rs 2,000 crore through the route. "Our securitization pipeline is strong. We should be able to raise almost Rs 3,000 crore from the wholesale book and another Rs 2,000 crore from the retail in this (Q4 FY21) quarter," the company's Deputy Managing Director Ashwini Kumar Hooda told PTI. He said already securitisation transactions worth Rs 2,000 crore have been done so far in the fourth quarter. "Fourth quarter is when most of the securitisation transactions get bunched up. We had a lot of transactions for December that got carried fo...