Mcap of 6 of top-10 most valued firms erodes by ₹78,166 cr; Reliance biggest laggard

The combined market valuation of six of the top-10 most valued firms eroded by ₹78,166.08 crore last week, with Reliance Industries taking the biggest hit, in line with weak trends in equities.

Last week, the BSE benchmark dropped 609.51 points or 0.74 per cent and the Nifty declined 166.65 points or 0.66 per cent.

While Reliance Industries, TCS, ICICI Bank, State Bank of India, Infosys and Hindustan Unilever were the laggards, HDFC Bank, Bharti Airtel, Bajaj Finance and ITC were the gainers from the top-10 pack.

The market valuation of Reliance Industries declined by ₹40,800.4 crore to ₹19,30,339.56 crore.

Tata Consultancy Services’ valuation dropped by ₹17,710.54 crore to ₹12,71,395.95 crore.

The valuation of Infosys went lower by ₹10,488.58 crore to ₹6,49,876.91 crore and that of Hindustan Unilever eroded by ₹5,462.8 crore to ₹5,53,974.88 crore.

The market capitalisation (mcap) of ICICI Bank edged down by ₹2,454.31 crore to ₹10,33,868.01 crore and that of State Bank of India dipped by ₹1,249.45 crore to ₹7,05,446.59 crore.

However, the mcap of Bharti Airtel jumped ₹10,121.24 crore to ₹10,44,682.72 crore.

The valuation of Bajaj Finance surged ₹4,548.87 crore to ₹5,74,207.54 crore and that of ITC climbed ₹875.99 crore to ₹5,45,991.05 crore.

The mcap of HDFC Bank went up by ₹399.93 crore to ₹14,80,723.47 crore.

Reliance Industries remained the most valuable firm followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Hindustan Unilever and ITC.