Thursday, February 29, 2024
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Mcap of 6 of top-10 most valued domestic firms erodes by Rs 1 lakh cr; Reliance takes biggest hit


Six of the top-10 most valued domestic firms suffered a combined erosion of ₹1,02,280.51 crore in market valuation last week, amid a weak trend in equities, with Reliance Industries taking the biggest hit.

Last week, the BSE benchmark fell 405.21 points or 0.63 per cent amid a bearish trend in global equities and concerns over rate hikes by central banks of various countries.

From the top-10 pack, Reliance Industries, ICICI Bank, Hindustan Unilever, ITC, Infosys and State Bank of India faced erosion from their market capitalisation (Mcap). However, Tata Consultancy Services (TCS), HDFC Bank, HDFC and Bharti Airtel emerged as the gainers.

  • Also Read: Mcap: 6 of top 10 most-valued firms fall by ₹83,637.96 crore; TCS biggest laggard

The market valuation of Reliance Industries tumbled ₹40,695.15 crore to ₹17,01,720.32 crore.

Hindustan Unilever’s Mcap diminished by ₹17,222.5 crore to ₹6,20,797.26 crore.

State Bank’s valuation fell by ₹14,814.86 crore to ₹4,95,048.22 crore and that of Infosys declined by ₹11,204.66 crore to ₹5,25,228.89 crore.

The Mcap of ITC went lower by ₹10,625.95 crore to ₹5,52,611.81 crore and that of ICICI Bank dipped ₹7,717.39 crore to ₹6,46,262.77 crore.

However, HDFC Bank added ₹23,525.6 crore taking its market valuation to ₹9,18,984.17 crore.

The Mcap of TCS jumped ₹15,441.19 crore to ₹11,77,281.48 crore.

HDFC’s valuation climbed ₹13,821.74 crore to ₹5,03,318.08 crore and that of Bharti Airtel advanced ₹11,297.68 crore to ₹4,77,710.47 crore.

In the ranking of top-10 most valued firms, Reliance Industries continued to rule the chart, followed by TCS, HDFC Bank, ICICI Bank, Hindustan Unilever, ITC, Infosys, HDFC, State Bank of India and Bharti Airtel.




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