M-cap of 7 of most-valued firms erode by Rs 1.16 trn; HDFC biggest laggard

The combined market valuation of seven of the top-10 most-valued firms eroded by Rs 1.16 lakh crore last week, with HDFC Bank emerging as the biggest laggard.

In the holiday-shortened week, the BSE benchmark fell by 982.56 points or 1.37 per cent.

Of the top-10 most-valued firms, Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, Life Insurance Corporation of India (LIC), Hindustan Unilever, ITC and State Bank of India were the laggards, ICICI Bank, Infosys and Bharti Airtel emerged as the gainers.

The market valuation of HDFC Bank fell by Rs 32,661.45 crore to Rs 10,90,001.31 crore.

LIC's valuation tumbled by Rs 20,682.74 crore to Rs 5,71,337.04 crore.

The market valuation of TCS eroded by Rs 19,173.43 crore to Rs 13,93,439.94 crore and that of State Bank of India plunged by Rs 16,599.77 crore to Rs 5,46,989.47 crore.

ITC's valuation diminished by Rs 15,908.1 crore to Rs 5,68,262.28 crore and that of Hindustan Unilever declined by Rs 9,210.4 crore to Rs 5,70,974.17 crore.

The market capitalisation (mcap) of Reliance Industries dipped by Rs 1,928.22 crore to Rs 18,33,737.60 crore.

However, the mcap of Bharti Airtel jumped Rs 20,727.87 crore to Rs 6,52,407.83 crore.

Infosys added Rs 9,151.75 crore taking its valuation to Rs 6,93,457.65 crore, and the mcap of ICICI Bank climbed Rs 1,137.37 crore to Rs 7,08,511.16 crore.

In the ranking of the most-valued firms, Reliance Industries retained the number one position followed by TCS, HDFC Bank, ICICI Bank, Infosys, Bharti Airtel, LIC, Hindustan Unilever, ITC and State Bank of India