Mcap of 6 top valued cos erodes by ₹70,325.5 cr; HDFC, ICICI major laggards

The combined market valuation of six of the top-10 valued firms eroded by ₹70,325.5 crore last week, with HDFC Bank and ICICI Bank emerging as the worst-hit in line with a bearish trend in equities.

 

Last week, the BSE benchmark Sensex dropped 626.01 points or 0.74 per cent.

 

In the top-10 pack, Reliance Industries, State Bank of India, Infosys and Hindustan Unilever Ltd were the gainers, while HDFC Bank, Tata Consultancy Services (TCS), Bharti Airtel, ICICI Bank, Life Insurance Corporation of India (LIC) and Bajaj Finance faced erosion from their market valuation.

 

HDFC Bank's valuation declined by ₹19,284.8 crore to ₹15,25,339.72 crore. ICICI Bank lost ₹13,566.92 crore in its market valuation which stood at ₹10,29,470.57 crore. 

 

The valuation of Bajaj Finance dropped by ₹13,236.44 crore to ₹5,74,977.11 crore and that of LIC diminished by ₹10,246.49 crore to ₹5,95,277.16 crore.

 

TCS faced an erosion of ₹8,032.15 crore from its market capitalisation (mcap) which stood at ₹12,37,729.65 crore.

 

The mcap of Bharti Airtel fell by ₹5,958.7 crore to ₹11,50,371.24 crore.

 

However, the market valuation of Reliance Industries jumped ₹15,359.36 crore to ₹20,66,949.87 crore.

 

Infosys added ₹13,127.51 crore in its valuation to ₹6,81,383.80 crore.

 

The mcap of Hindustan Unilever climbed ₹7,906.37 crore to ₹5,49,757.36 crore and that of State Bank of India went up by ₹5,756.38 crore to ₹7,24,545.28 crore.

 

In the ranking of top-10 firms, Reliance Industries retained the title of the most valued firm, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, LIC, Bajaj Finance and Hindustan Unilever Ltd.