Mcap of 8 top valued cos erodes by ₹2.07 trn; TCS, Airtel biggest laggards

The combined market valuation of eight of the top 10 valued firms eroded by ₹2.07 trillion (₹2,07,501.58 crore) last week, with Tata Consultancy Services and Bharti Airtel emerging as the worst hit.

 

Last week, the benchmark BSE Sensex dropped 932.42 points or 1.11 per cent.

 

From the top 10 pack, only Bajaj Finance and Hindustan Unilever closed the week with gains in their valuation.

 

Among major losers, the market valuation of Tata Consultancy Services (TCS) tumbled ₹56,279.35 crore to ₹11,81,450.30 crore. Shares of TCS dropped nearly 3.50 per cent on Friday after its June quarter earnings failed to enthuse investors.

 

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Bharti Airtel's valuation eroded by ₹54,483.62 crore to ₹10,95,887.62 crore. 

 

The market valuation of Reliance Industries dropped by ₹44,048.2 crore to ₹20,22,901.67 crore and that of Infosys by ₹18,818.86 crore to ₹6,62,564.94 crore.

 

The market capitalisation (mcap) of ICICI Bank tanked ₹14,556.84 crore to ₹10,14,913.73 crore. The valuation of Life Insurance Corporation of India (LIC) diminished by ₹11,954.25 crore to ₹5,83,322.91 crore.

 

The mcap of HDFC Bank declined by ₹4,370.71 crore to ₹15,20,969.01 crore and that of State Bank of India went lower by ₹2,989.75 crore to ₹7,21,555.53 crore.

 

However, the valuation of Hindustan Unilever Ltd jumped ₹42,363.13 crore to ₹5,92,120.49 crore. Shares of Hindustan Unilever Ltd (HUL) on Friday surged nearly 5 per cent after the company announced that Priya Nair will become its first woman CEO and MD.

 

The mcap of Bajaj Finance climbed ₹5,033.57 crore to ₹5,80,010.68 crore.

 

Reliance Industries was the most valued firm, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, LIC, Bajaj Finance and Hindustan Unilever in that order.