Banks, NBFCs lose R1.43 lakh cr M-cap

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Banks, NBFCs lose R1.43 lakh cr M-cap

Witnessing a sharp value erosion in their scrips during the last quarter of the current fiscal, about 50 listed banks and non-banking financial corporations (NBFCs) of the country have lost nearly Rs 1.43 lakh crore in their market capitalisation in this period.

The estimated 14 per cent percentage loss in the market value of banking and non-banking financial companies (NBFCs) is much higher than the overall plunge of less than 8 per cent across the stock market between January and March 2013. While two days are still left in the current fiscal, the stock markets would now resume trading in the next financial year on April 1, as the next two days are trading holdings.

An analysis of stock movements of about 50 listed banks and NBFCs during the current quarter shows that their cumulative market cap has plunged by Rs 1,43,682 crore since January 1, 2013 to end the fiscal at Rs 10,44,400 crore.

 The biggest loser among these has been State Bank of India with a loss of over Rs 23,000 crore in the current quarter, followed by private lenders HDFC Bank and ICICI Bank with losses of over Rs 13,000 crore and Rs 12,000 crore, respectively.

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