Market cap of 6 out of 10 most valuable companies decreased by Rs 1.71 lakh crore
Delhi Delhi. The combined market valuation of six of the top 10 most valued domestic firms declined by Rs 1.71 lakh crore last week, with IT majors Infosys and Tata Consultancy Services taking the biggest hit. The BSE benchmark fell 759.58 points or 0.98 per cent and the Nifty declined 228.3 points or 0.97 per cent last week. Among the top 10 pack, the market valuation of Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank, Infosys, Hindustan Unilever and ITC declined a combined Rs 1,71,680.42 crore, while Reliance Industries, Bharti Airtel, State Bank of India and Life Insurance Corporation of India (LIC) gained. Infosys’ valuation fell by Rs 62,948.4 crore to Rs 7,53,678.38 crore, the highest among the top 10 firms. Infosys shares fell nearly 6 per cent on Friday amid profit-booking after the announcement of its third quarter earnings.
The market capitalisation (mcap) of TCS fell by Rs 50,598.95 crore to Rs 14,92,714.37 crore. Hindustan Unilever’s valuation fell by Rs 20,605.92 crore to Rs 5,53,152.52 crore and ICICI Bank’s valuation fell by Rs 16,005.84 crore to Rs 8,65,495.17 crore. HDFC Bank’s market cap declined by Rs 15,640.8 crore to Rs 12,51,799.81 crore and ITC’s market cap fell by Rs 5,880.51 crore to Rs 5,50,702.93 crore. However, the valuation of Reliance Industries rose by Rs 79,773.34 crore to Rs 17,60,967.69 crore.
