Investors mostly got a raw deal from the stock markets, with as many as 1,000 companies, including top five IT firms Infosys, TCS, Wipro, Satyam and HCL Tech, collectively losing over Rs 2,50,000 crore in market value in 2007-08. Infosys, TCS and Wipro lost Rs 18,000-42,000 crore, while Satyam, HCL Tech and Patni lost Rs 2,000-4,500 crore.

Tata Motors, M&M, Hindustan Zinc, Cipla, Container Corp, Dr Reddy’s, Tech Mahindra, i-Flex, Videocon, MTNL, Bharat Forge, Sobha Developers, United Breweries, Amtek Auto, Cadila, Wockhardt, Aventis Pharma, Ansal Properties, Aurobindo Pharma, Mindtree Consulting, Hexaware, Subex and NIIT Tech all lost between Rs 1,000-10,000 crore each.

Flagship companies of two Ambani groups, Reliance Industries and Reliance Communications, are among the five biggest losers in the Sensex market capitalisation league during the first three months of 2008. Among the top five companies which suffered the most, Reliance Industries, DLF and Reliance Communication are promoted by richest Indians, Mukesh Ambani, K P singh and Anil Ambani respectively. ICICI Bank and Reliance Communications lost Rs 51,425 crore and Rs 49,079 crore respectively.

Other major losers include Sunil Mittal-led Bharti Airtel (Rs 31,964 crore), engineering major Larsen & Toubro (Rs 33,340 crore), public sector undertaking NTPC (Rs 43,742 crore), Anil Ambani’s Reliance Energy (Rs 20,889 crore) and leading public sector lender State Bank of India (Rs 23,808 crore).

The country’s largest software exporter Tata Consultancy Services recorded a loss of Rs 26,661.96 crore in its market capitalisation followed by Bangalore-based Infosys and Wipro, their value plunged by Rs 19,238.26 crore and Rs 14,612.66 crore, respectively. However, Hyderabad-based Satyam Computer recorded losses of Rs 3,619.96 crore.

Moreover, Tata Group firms, Tata Motors and Tata Steel, together recorded significant decline in their market capitalisation to the tune of Rs 22,246 crore in the first quarter of this calendar year. While Tata Steel saw an erosion of Rs 17,672 crore in its value, Tata Motors incurred a loss of Rs 4,574 crore.

Meanwhile, on the global front, Switzerland’s biggest bank UBS unveiled massive new writedowns on Tuesday and turned to its shareholders to prop up its capital base, as it became the bank worst-hit by the US subprime mortgage crisis.