Market Capitalisation of four of top-10 most valued firms erode by ₹96,605.66 crore; HDFC Bank hit hard

The market valuation of HDFC Bank tumbled ₹37,025.46 crore to ₹13,37,919.84 crore.
| Photo Credit: Reuters

The combined market valuation of four of the top-10 most valued firms eroded by ₹96,605.66 crore last week, with HDFC Bank taking the biggest hit.

While Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank and State Bank of India suffered erosion from their valuation, Reliance Industries, Bharti Airtel, Infosys, ITC, Life Insurance Corporation of India (LIC) and Hindustan Unilever were the winners. Together, they added ₹82,861.16 crore in combined market valuation.

The market valuation of HDFC Bank tumbled ₹37,025.46 crore to ₹13,37,919.84 crore. ICICI Bank’s valuation slumped ₹29,324.55 crore to ₹8,93,378.50 crore. The market capitalisation (mcap) of TCS tanked ₹24,856.26 crore to ₹14,83,144.53 crore and that of State Bank of India declined ₹5,399.39 crore to ₹7,08,168.60 crore.

However, the mcap of Reliance Industries surged ₹41,138.41 crore to ₹16,93,373.48 crore. The valuation of Hindustan Unilever soared ₹15,331.08 crore to ₹5,65,194.18 crore.

The mcap of LIC jumped ₹13,282.49 crore to ₹5,74,689.29 crore and that of Infosys zoomed ₹9,031.19 crore to ₹8,04,834.34 crore. ITC’s valuation climbed ₹3,878.63 crore to ₹6,03,064.44 crore and that of Bharti Airtel went up ₹199.36 crore to ₹9,10,934.58 crore.

Last week, the BSE benchmark jumped 524.04 points or 0.66% and the Nifty climbed 191.35 points or 0.80%. Reliance Industries retained the title of the most valued firm followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, ITC, LIC and Hindustan Unilever.