Market capitalisation of 7 of top-10 most-valued firms erode by Rs 1.16 lakh cr; HDFC Bank biggest laggard

Pedestrians walk past the Bombay Stock Exchange (BSE) building, in Mumbai
| Photo Credit: PTI

The combined market valuation of seven of the top-10 most-valued firms eroded by ₹1.16 lakh crore last week, with HDFC Bank emerging as the biggest laggard. In the holiday-shortened week, the BSE benchmark fell by 982.56 points or 1.37 per cent.

Of the top-10 most-valued firms, Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, Life Insurance Corporation of India (LIC), Hindustan Unilever, ITC and State Bank of India were the laggards, ICICI Bank, Infosys and Bharti Airtel emerged as the gainers.

The market valuation of HDFC Bank fell by ₹32,661.45 crore to Rs 10,90,001.31 crore. LIC’s valuation tumbled by ₹20,682.74 crore to Rs 5,71,337.04 crore. The market valuation of TCS eroded by ₹19,173.43 crore to ₹13,93,439.94 crore and that of SBI plunged by ₹16,599.77 crore to ₹5,46,989.47 crore.

ITC’s valuation diminished by ₹15,908.1 crore to ₹5,68,262.28 crore and that of Hindustan Unilever declined by Rs 9,210.4 crore to Rs 5,70,974.17 crore. The market capitalisation (m-cap) of Reliance Industries dipped by ₹1,928.22 crore to ₹18,33,737.60 crore. However, the m-cap of Bharti Airtel jumped ₹20,727.87 crore to ₹6,52,407.83 crore.

Infosys added Rs 9,151.75 crore taking its valuation to ₹6,93,457.65 crore, and the m-cap of ICICI Bank climbed ₹1,137.37 crore to Rs 7,08,511.16 crore.

In the ranking of the most-valued firms, Reliance Industries retained the number one position followed by TCS, HDFC Bank, ICICI Bank, Infosys, Bharti Airtel, LIC, Hindustan Unilever, ITC and SBI.