Mcap: 8 of top-10 most valued firms erodes by ₹3 lakh cr, TCS hit hard
The combined market valuation of eight of the top-10 most valued firms eroded by ₹3,09,244.57 crore in a holiday-shortened last week, with Tata Consultancy Services taking the biggest hit, in line with bearish trend in equities.
Last week, the BSE benchmark gauge Sensex tanked 2,112.96 points or 2.80 per cent, and the NSE Nifty tumbled 671.2 points or 2.94 per cent.
In February alone, the Nifty dropped 1,383.7 points or 5.88 per cent. The Sensex lost 4,302.47 points or 5.55 per cent.
The market valuation of Tata Consultancy Services (TCS) plunged ₹1,09,211.97 crore to ₹12,60,505.51 crore, the most among the top-10 firms.
With the sharp decline in its market valuation TCS slipped to the third rank in the top-10 most valued firms chart from the previous second place. HDFC Bank overtook TCS to become the second most valuable firm.
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The valuation of Infosys tanked ₹52,697.93 crore to ₹7,01,002.22 crore.
Bharti Airtel’s market valuation eroded by ₹39,230.1 crore to ₹8,94,993.67 crore and that of Reliance Industries dropped ₹38,025.97 crore to ₹16,23,343.45 crore.
State Bank of India’s valuation diminished by ₹29,718.99 crore to ₹6,14,236.97 crore.
The market capitalisation (mcap) of ICICI Bank slumped ₹20,775.78 crore to ₹8,49,803.90 crore.
Hindustan Unilever’s mcap declined by ₹11,700.97 crore to ₹5,14,983.41 crore.
The valuation of ITC dipped ₹7,882.86 crore to ₹4,93,867.57 crore.
However, the mcap of HDFC Bank jumped ₹30,258.49 crore to ₹13,24,411.31 crore.
Bajaj Finance added ₹9,050.24 crore taking its valuation to ₹5,29,516.99 crore.
Reliance Industries remained the most valued firm followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, Bajaj Finance, Hindustan Unilever and ITC.
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