The combined market capitalisation of six of India’s top 10 most valued firms dropped by Rs 1.71 lakh crore last week, with IT giants Infosys and Tata Consultancy Services (TCS) facing the largest losses.
During the previous week, the benchmark BSE index fell by 759.58 points, or 0.98%, while the Nifty declined by 228.3 points, or 0.97%.
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Among the top 10 firms, the market valuation of Infosys, TCS, HDFC Bank, ICICI Bank, Hindustan Unilever, and ITC saw a collective erosion of Rs 1,71,680.42 crore. In contrast, Reliance Industries, Bharti Airtel, State Bank of India (SBI), and Life Insurance Corporation of India (LIC) experienced gains.
Infosys saw the biggest decline, with its market value shrinking by Rs 62,948.4 crore, bringing its valuation down to Rs 7,53,678.38 crore. The stock fell nearly 6% on Friday amid profit-taking following the release of its third-quarter earnings.
TCS’s market capitalisation dropped by Rs 50,598.95 crore to Rs 14,92,714.37 crore. Hindustan Unilever lost Rs 20,605.92 crore, bringing its market value to Rs 5,53,152.52 crore, while ICICI Bank’s valuation decreased by Rs 16,005.84 crore to Rs 8,65,495.17 crore. HDFC Bank’s market cap fell by Rs 15,640.8 crore to Rs 12,51,799.81 crore, and ITC saw a decline of Rs 5,880.51 crore, with its market valuation dropping to Rs 5,50,702.93 crore.
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On the other hand, Reliance Industries posted the largest gain, with its market capitalisation rising by Rs 79,773.34 crore, reaching Rs 17,60,967.69 crore. SBI’s market value climbed by Rs 18,697.08 crore to Rs 6,81,930.22 crore, while LIC added Rs 9,993.5 crore, bringing its valuation to Rs 5,40,724.05 crore. Bharti Airtel’s market cap grew by Rs 7,080.98 crore, taking it to Rs 9,27,014.97 crore.
Reliance Industries remains the most valuable firm in India, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, SBI, Hindustan Unilever, ITC, and LIC.
(With PTI inputs)
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