Mcap of nine of top-10 most valued firms plunges by ₹2.9 lakh crore; TCS, RIL hit most | Stock Market News
Source: Live Mint
In the holiday-shortened week, nine out of the ten most valued companies collectively lost ₹2,94,170.16 crore in market capitalization, with Tata Consultancy Services (TCS) suffering the steepest decline amid a broader downturn in domestic equity markets.
During the same week, the BSE Sensex dropped by 2,050.23 points (2.64%), and the NSE Nifty slid 614.8 points (2.61%).
Among the top-10 firms, TCS, Reliance Industries, Infosys, Bajaj Finance, ICICI Bank, HDFC Bank, Hindustan Unilever Ltd (HUL), State Bank of India (SBI), and ITC all saw their market values decline. Bharti Airtel was the only company in the list to post a gain.
TCS witnessed the largest erosion in valuation, falling by ₹1,10,351.67 crore to ₹11,93,769.89 crore. Reliance Industries’ mcap declined by ₹95,132.58 crore to ₹16,30,244.96 crore, while Infosys shed ₹49,050.04 crore, dropping to ₹6,03,178.45 crore.
Bajaj Finance lost ₹14,127.07 crore, bringing its valuation to ₹5,40,588.05 crore. ICICI Bank’s market cap decreased by ₹9,503.66 crore to ₹9,43,264.95 crore.
HDFC Bank saw a dip of ₹8,800.05 crore to ₹13,90,408.68 crore, while HUL’s valuation decreased by ₹3,500.89 crore to ₹5,27,354.01 crore. SBI and ITC also saw declines of ₹3,391.35 crore and ₹312.85 crore, respectively.
On the other hand, Bharti Airtel’s market capitalization rose by ₹7,013.59 crore to reach ₹9,94,019.51 crore.
Despite the losses, Reliance Industries remained the most valuable company, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, SBI, Infosys, Bajaj Finance, HUL, and ITC.
