TCS, Bharti Airtel lead Mcap slide as markets stay under pressure

The market capitalisation of Tata Consultancy Services fell by Rs 18,180.89 crore last week, taking its valuation down to Rs 9,53,872.59 crore, as domestic equity markets remained under pressure.

Overall, nine of the top-10 most valued companies together lost Rs 2,18,902.09 crore in market valuation during the week, reflecting a broadly bearish trend. The BSE benchmark index declined by 1,527.52 points, or 1.84 per cent, over the same period.

Among the biggest losers, Bharti Airtel saw the sharpest erosion in valuation, with its market cap plunging Rs 55,852.12 crore to Rs 10,71,853.25 crore. HDFC Bank lost Rs 37,580.1 crore, taking its valuation to Rs 13,65,659.38 crore.

The market valuation of Reliance Industries declined by Rs 34,846.12 crore to Rs 18,86,832.66 crore, while Bajaj Finance shed Rs 20,316.41 crore. Life Insurance Corporation of India lost Rs 14,990.24 crore and Larsen & Toubro Rs 13,714.85 crore.

State Bank of India and ICICI Bank also saw their valuations decline.

In contrast, Hindustan Unilever emerged as the lone gainer among the top-10 firms.

Despite the losses, Reliance Industries remained India’s most valued company.