8 top valued firms saw combined ₹1.60 trn erosion in valuation last week

The combined market valuation of eight of the top-10 most valued firms eroded by ₹1,60,314.48 crore last week, with Reliance Industries taking the biggest hit, in line with a sluggish trend in equities.

Last week, the BSE benchmark dropped 1,047.52 points, or 1.30 per cent.

While Reliance Industries, HDFC Bank, Tata Consultancy Services (TCS), Bharti Airtel, ICICI Bank, State Bank of India, Bajaj Finance, and ITC faced erosion from their market valuation, Infosys, and Hindustan Unilever made gains on the other hand.

The valuation of Reliance Industries tumbled ₹59,799.34 crore to ₹18,64,436.42 crore.

ICICI Bank's market valuation dropped ₹30,185.36 crore to ₹ 9,90,015.33 crore. 

 

The valuation of HDFC Bank tanked ₹ 27,062.52 crore to ₹ 14,46,294.43 crore and that of State Bank of India dived ₹ 18,429.34 crore to ₹ 6,95,584.89 crore.

The market capitalisation (mcap) of Bajaj Finance diminished ₹ 13,798.85 crore to ₹ 5,36,927.95 crore.

The valuation of ITC declined ₹ 8,321.89 crore to ₹ 5,29,972.97 crore and that of Bharti Airtel fell ₹ 2,138.29 crore to ₹ 10,53,891.62 crore.

The mcap of TCS was down ₹ 578.89 crore at ₹ 12,45,418.09 crore.

However, the mcap of Hindustan Unilever Ltd jumped ₹ 2,537.56 crore to ₹ 5,48,382.85 crore.

Infosys added ₹ 415.33 crore, taking its valuation to ₹ 6,26,083.70 crore.

In the top-10 order, Reliance Industries remained the most-valued firm, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Hindustan Unilever, Bajaj Finance, and ITC.