M-cap of eight of top 10 most-valued firms tumbles over Rs 1.23 lakh crore
Only Reliance Industries and State Bank of India emerged as gainers from the top 10 most-valued companies list
New Delhi: Eight of the top 10 most-valued companies together witnessed an erosion of Rs 1,23,670.47 crore from market valuation last week, in-line with a bearish broader market trend.
During the last week, the BSE benchmark declined 654.54 points or 1.26%.
Only Reliance Industries (RIL) and State Bank of India (SBI) emerged as gainers from the top 10 most-valued companies list.
Tata Consultancy Services was the biggest laggard in the list as its market valuation tanked Rs 44,672.14 crore to Rs 11,52,770.11 crore.
The valuation of HDFC Bank tumbled Rs 23,964.99 crore to reach Rs 8,47,754.65 crore.
The market capitalisation (m-cap)of ICICI Bank sank Rs 16,146.38 crore to Rs 4,31,177.44 crore and that of Hindustan Unilever plunged Rs 14,273.56 crore to Rs 5,12,473.46 crore.
HDFC’s valuation declined Rs 9,408.05 crore to reach Rs 4,92,908.61 crore and that of Infosys dropped Rs 7,735.21 crore to Rs 5,50,100.64 crore.
The market capitalisation of Bajaj Finance went lower by Rs 4,667.04 crore to Rs 3,31,365.79 crore and that of Kotak Mahindra Bank dipped Rs 2,803.1 crore to Rs 3,83,777.06 crore.
In contrast, RIL added Rs 24,914 crore to take its valuation to Rs 13,18,952.34 crore.
The valuation of SBI jumped Rs 5,488.63 crore to reach Rs 3,56,404.36 crore.
In the ranking of top 10 most-valued companies, RIL was leading the chart followed by TCS, HDFC Bank, Infosys, Hindustan Unilever Limited, HDFC, ICICI Bank, Kotak Mahindra Bank, SBI and Bajaj Finance.