Mcap Of 6 Top Firms Drops By ₹70,325 Crore, HDFC & ICICI Bank Lead Decline
Six of India’s ten most valued companies lost a combined ₹70,325.5 crore in market cap last week, as markets turned bearish. HDFC Bank and ICICI Bank were the biggest losers amid weak investor sentiment.
Six of India’s ten most valued companies lost a combined ₹70,325.5 crore in market cap last week. |
Mumbai: The combined market capitalisation (mcap) of six out of the top ten most valued Indian companies dropped by Rs 70,325.5 crore last week, in line with weak trends in the equity markets. The benchmark BSE Sensex fell by 626.01 points or 0.74 percent during the week.
HDFC, ICICI Bank See Sharp Erosion
Among the biggest losers, HDFC Bank saw its valuation fall by Rs 19,284.8 crore to Rs 15,25,339.72 crore. ICICI Bank followed with a decline of Rs 13,566.92 crore, bringing its mcap to Rs 10,29,470.57 crore.
Other Major Losers
Bajaj Finance: Down by Rs 13,236.44 crore to Rs 5,74,977.11 crore
LIC: Lost Rs 10,246.49 crore, mcap now at Rs 5,95,277.16 crore
TCS: Declined Rs 8,032.15 crore to Rs 12,37,729.65 crore
Bharti Airtel: Fell Rs 5,958.7 crore to Rs 11,50,371.24 crore
Winners in the Top 10
Despite the market downturn, four companies managed gains:
Reliance Industries: Added Rs 15,359.36 crore to reach Rs 20,66,949.87 crore
Infosys: Rose by Rs 13,127.51 crore to Rs 6,81,383.80 crore
Hindustan Unilever Ltd (HUL): Increased by Rs 7,906.37 crore to Rs 5,49,757.36 crore
State Bank of India (SBI): Gained Rs 5,756.38 crore to Rs 7,24,545.28 crore
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Updated Rankings
Reliance Industries retained its top position by market value, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, SBI, Infosys, LIC, Bajaj Finance, and HUL.
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