Mcap of four of top-10 most valued firms erode by Rs 96,605.66 cr; HDFC Bank hit hard

The combined market valuation of four of the top-10 most valued firms eroded by Rs 96,605.66 crore last week, with HDFC Bank taking the biggest hit. While Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank and State Bank of India suffered erosion from their valuation, Reliance Industries, Bharti Airtel, Infosys, ITC, Life Insurance Corporation of India (LIC) and Hindustan Unilever were the winners. Together they added Rs 82,861.16 crore in combined market valuation.

The market valuation of HDFC Bank tumbled Rs 37,025.46 crore to Rs 13,37,919.84 crore.

ICICI Bank’s valuation slumped Rs 29,324.55 crore to Rs 8,93,378.50 crore.

The market capitalisation (mcap) of TCS tanked Rs 24,856.26 crore to Rs 14,83,144.53 crore and that of State Bank of India declined Rs 5,399.39 crore to Rs 7,08,168.60 crore.

However, the mcap of Reliance Industries surged Rs 41,138.41 crore to Rs 16,93,373.48 crore.

The valuation of Hindustan Unilever soared Rs 15,331.08 crore to Rs 5,65,194.18 crore. The mcap of LIC jumped Rs 13,282.49 crore to Rs 5,74,689.29 crore and that of Infosys zoomed Rs 9,031.19 crore to Rs 8,04,834.34 crore. ITC’s valuation climbed Rs 3,878.63 crore to Rs 6,03,064.44 crore and that of Bharti Airtel went up Rs 199.36 crore to Rs 9,10,934.58 crore.

Last week, the BSE benchmark jumped 524.04 points, or 0.66 per cent, and the Nifty climbed 191.35 points, or 0.80 per cent.

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