New Delhi: The combined market valuation of six of the top-10 most valued firms eroded by Rs71,414 crore last week, with state-owned company LIC emerged as the biggest laggard.
Of the top-10 most valued firms, Life Insurance Corporation of India (LIC), Tata Consultancy Services (TCS), ITC, Hindustan Unilever, Bharti Airtel and Reliance Industries faced a total erosion of Rs 71,414.03 crore. On the other hand, State Bank of India, Infosys, HDFC Bank and ICICI Bank were emerged as the gainers. They collectively added Rs62,038.86 crore.
However, in last week, the BSE benchmark climbed 831.15 points or 1.16 per cent. The market valuation of state-owned insurer LIC fell by Rs26,217.12 crore to Rs6,57,420.26 crore. TCS’ market valuation tumbled by Rs 18,762.61 crore to Rs14,93,980.70 crore. The market capitalisation of ITC eroded by Rs13,539.84 crore to Rs5,05,092.18 crore, while that of Hindustan Unilever dimnished Rs11,548.24 crore to Rs5,58,039.67 crore.
