Mcap of five of top-10 most valued firms erode by ₹1.67 lakh crore

A file photo of the Bombay Stock Exchange on Dalal Street, Mumbai
| Photo Credit: Paul Noronha

The combined market valuation of five of the top 10 valued firms eroded by ₹1,67,936.21 crore last week, with HDFC Bank emerging as the biggest loser.

Last week, the 30-share BSE benchmark fell by 1,144.8 points 1.57%. The NSE and BSE conducted normal trading sessions on January 20.

Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, Hindustan Unilever and State Bank of India faced erosion in their valuation, while ICICI Bank, Infosys, Bharti Airtel, Life Insurance Corporation of India (LIC) and ITC were the gainers in the top-10 pack.

The market valuation of HDFC Bank eroded by ₹1,22,163.07 crore ₹Rs 11,22,662.76 crore. The company’s shares fell for the third day in a row on Jan. 19, tumbling over 12%, as investors deserted the counter after the company’s December quarter earnings failed to impress the market. HDFC Bank shares bounced back on Jan. 20, climbing 0.54%.

Reliance Industries valuation fell by ₹18,199.35 crore to ₹18,35,665.82 crore. Hindustan Unilever’s market valuation diminished by ₹17,845.15 crore to ₹5,80,184.57 crore. TCS’ valuation declined by ₹7,720.6 crore to ₹14,12,613.37 crore.

The market capitalisation (m-cap) of State Bank of India dipped ₹2,008.04 crore to ₹5,63,589.24 crore. However, the mcap of Life Insurance Corporation of India (LIC) jumped ₹67,456.1 crore to reach ₹5,92,019.78 crore LIC surpassed SBI) to become the country’s most valued PSU firm by market valuation on Wednesday.

Bharti Airtel added ₹26,380.94 crore taking its market valuation to ₹6,31,679.96 crore.

The m-cap of Infosys climbed ₹15,170.75 crore to ₹6,84,305.90 crore and that of ICICI Bank rallied ₹3,163.72 crore to ₹7,07,373.79 crore. ITC’s valuation climbed ₹2,058.48 crore to ₹5,84,170.38 crore.

Reliance Industries continued to rule the top-10 most valued firms ranking chart followed by TCS, HDFC Bank, ICICI Bank, Infosys, Bharti Airtel, LIC, ITC, Hindustan Unilever and State Bank of India.