New Delhi: Five of the top-10 valued firms faced a combined erosion of Rs2,23,660 crore from their market valuation last week, with Reliance Industries and Life Insurance Corporation of India taking the steepest hit amid an overall bearish trend in equities.
Last week, the BSE benchmark tanked 1,475.96 points or 1.99 per cent. While Reliance Industries, ICICI Bank, State Bank of India, Life Insurance Corporation of India (LIC) and Hindustan Unilever suffered erosion from their market capitalisation (mcap), Tata Consultancy Services (TCS), HDFC Bank, Bharti Airtel, Infosys and ITC were the gainers. The mcap of Reliance Industries tanked Rs81,763.35 crore to Rs19,19,595.15 crore, the most among the top-10 firms. LIC’s market valuation tumbled Rs63,629.48 crore to Rs5,84,967.41 crore and that of State Bank of India plummeted by Rs50,111.7 crore to Rs6,53,281.59 crore.
The mcap of Hindustan Unilever dropped by Rs21,792.46 crore to Rs5,46,961.35 crore and that of ICICI Bank dived Rs6,363.11 crore to Rs7,57,218.19 crore. However, the market valuation of TCS jumped Rs38,858.26 crore to Rs15,25,928.41 crore. Bharti Airtel added Rs11,976.74 crore to its mcap at Rs6,89,425.18 crore. The valuation of ITC climbed Rs7,738.51 crore to Rs5,23,660.08 crore and that of Infosys went up by Rs7,450.22 crore to Rs6,78,571.56 crore. HDFC Bank’s mcap surged Rs4,443.9 crore to Rs11,03,151.78 crore. Reliance Industries continued to rule the chart of the most valued firms followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, Infosys, State Bank of India, LIC, Hindustan Unilever and ITC.
