M-cap of nine of top 10 most valued firms erodes by over Rs 2.6 trillion

NEW DELHI: The market valuation of nine of the top-10 most valued companies eroded by Rs 2.62 trillion last week in tandem with an overall weak broader market, where Bajaj Finance and Reliance Industries took the biggest hit.

During the last week, the Sensex plunged by 2,528.86 points or 4.24 per cent. Bharti Airtel was the only gainer from the top-10 companies’ list.

The valuation of Bajaj Finance tumbled by Rs 41,518.24 crore to Rs 4.11 trillion.

Reliance Industries (RIL) saw its market worth tank by Rs 38,440.66 crore to Rs 15.3 trillion.

The valuation of Infosys took a hit of Rs 37,950.03 crore to reach Rs 7.11 trillion and that of HDFC plummeted by Rs 33,067.68 crore to Rs 4.96 trillion.

State Bank of India’s market capital dropped by Rs 29,852.83 crore to Rs 4.2 trillion and ICICI Bank lost Rs 28,567.03 crore to Rs 5.01 trillion.

The market capitalisation (m-cap) of HDFC Bank dipped by Rs 26,873.77 crore to Rs 8.26 trillion and that of Hindustan Unilever (HUL) fell by Rs 14,778.93 crore to Rs 5.48 trillion.

The valuation of Tata Consultancy Services (TCS) dipped by Rs 11,097.15 crore to Rs 12.74,563.64 crore.

In contrast, Bharti Airtel’s valuation jumped Rs 12,769.55 crore to Rs 4.05 trillion.

In the ranking of top-10 firms, RIL remained the most valued firm, followed by TCS, HDFC Bank, Infosys, HUL, ICICI Bank, HDFC, State Bank of India, Bajaj Finance and Bharti Airtel.

Source: Press Trust of India

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