Mcap of eight of top-10 most valued firms erode by Rs 2 lakh cr; Reliance, TCS biggest laggards

The combined market valuation of eight of the top-10 most valued firms got eroded by Rs 2,01,699.77 crore last week, with Reliance Industries and Tata Consultancy Services emerging as the biggest laggards, in line with weak trends in equities.

Last week, the BSE benchmark dropped 1,181.84 points, or 1.43 per cent.

The market valuation of Reliance Industries tumbled Rs 60,824.68 crore to Rs 19,82,282.42 crore.

The valuation of Tata Consultancy Services (TCS) slumped Rs 34,136.66 crore to Rs 16,12,762.51 crore.

State Bank of India’s valuation dropped Rs 29,495.84 crore to Rs 6,98,440.13 crore and that of Bharti Airtel diminished Rs 28,379.54 crore to Rs 8,76,207.58 crore.

The market capitalisation (mcap) of Infosys tanked Rs 17,061.44 crore to Rs 7,89,819.06 crore and that of Life Insurance Corporation of India (LIC) eroded by Rs 16,381.74 crore to Rs 6,57,009.14 crore.

ICICI Bank’s mcap declined Rs 15,169.76 crore to Rs 8,51,204.65 crore and that of ITC was down Rs 250.11 crore to Rs 6,27,337.65 crore.

However, Hindustan Unilever added Rs 14,179.78 crore, taking its market valuation to Rs 6,66,919.73 crore.

The mcap of HDFC Bank climbed Rs 3,735.35 crore to Rs 12,47,941.78 crore.

Reliance Industries remained the most-valued domestic firm followed by TCS, HDFC Bank, Airtel, ICICI Bank, Infosys, State Bank of India, Hindustan Unilever, LIC, and ITC.