Mcap of six of top-10 most valued firms declines by ₹1.73 lakh crore; HDFC, LIC major laggards
The combined market valuation of six of the top-10 most valued firms eroded by ₹1,73,097.59 crore last week, with HDFC Bank and Life Insurance Corporation of India taking the maximum hit in line with weak equities.
Last week, the BSE benchmark tanked 1,213.68 points or 1.64 per cent.
The market valuation of HDFC Bank slumped ₹60,678.26 crore to ₹10,93,026.58 crore.
LIC‘s valuation tanked ₹43,168.1 crore to ₹5,76,049.17 crore.
Reliance Industries faced an erosion of ₹36,094.96 crore to ₹19,04,643.44 crore from its market valuation.
The market capitalisation (mcap) of ICICI Bank declined by ₹17,567.94 crore to ₹7,84,833.83 crore and that of State Bank of India went lower by ₹11,780.49 crore to ₹7,30,345.62 crore.
ITC‘s valuation dipped by ₹3,807.84 crore to ₹5,40,838.13 crore.
However, the mcap of Hindustan Unilever climbed ₹33,270.22 crore to ₹5,53,822.16 crore.
Tata Consultancy Services (TCS) added ₹20,442.2 crore, taking its valuation to ₹14,09,552.63 crore.
The mcap of Bharti Airtel rallied by ₹14,653.98 crore to ₹7,38,424.68 crore and that of Infosys went up by ₹3,611.26 crore to ₹5,91,560.88 crore.
Reliance Industries remained the most valued firm, followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, State Bank of India, Infosys, LIC, Hindustan Unilever and ITC.