Mcap of top eight firms slump ₹1.28 lakh crore; TCS, Infosys biggest laggards
Eight of the top-10 most valued firms together lost ₹1,28,913.5 crore in market valuation last week, with IT majors Tata Consultancy Services (TCS) and Infosys emerging as the biggest laggards, amid weak trend in equities.
In the ranking of the most valued firms, Reliance Industries retained the number one rank followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, LIC, Hindustan Unilever and ITC.
Last week, the BSE benchmark declined by 350.77 points or 0.43 per cent.
The valuation of TCS tumbled ₹37,971.83 crore to ₹15,49,626.88 crore, the most among the top-10 firms.
The market capitalisation (mcap) of Infosys tanked ₹23,811.88 crore to ₹7,56,250.47 crore.
ITC’s mcap dropped by ₹16,619.51 crore to ₹6,11,423.11 crore and that of State Bank of India slumped by ₹13,431.54 crore to ₹7,56,717.85 crore.
The valuation of Reliance Industries declined by ₹13,125.49 crore to ₹20,28,695.57 crore.
Bharti Airtel‘s market valuation went lower by ₹11,821.5 crore to ₹8,50,389.88 crore and that of ICICI Bank diminished by ₹7,843.75 crore to ₹8,42,176.78 crore.
The valuation of Hindustan Unilever dipped by ₹4,288 crore to ₹6,32,862.41 crore.
However, the mcap of HDFC Bank jumped ₹32,759.37 crore to ₹12,63,601.40 crore.
The valuation of Life Insurance Corporation of India (LIC) soared ₹1,075.25 crore to ₹7,47,677.98 crore.