New Delhi: Eight of the top 10 most valuable firms suffered a combined erosion of Rs 1,06,991.42 crore in market valuation last week, with IT majors Infosys and Tata Consultancy Services as well as HDFC Bank being the biggest hit. Last week, the Sensex had declined 940.37 points or 1.55 per cent. Barring Hindustan Unilever and Life Insurance Corporation of India (LIC), eight firms faced erosion from their market capitalization (MCAP).
Infosys’ market valuation fell Rs 25,185.37 crore to Rs 6,09,687.79 crore, the most among the top 10 firms. HDFC Bank’s mcap declined by Rs 18,375.41 crore to Rs 8,89,130 crore.
Tata Consultancy Services (TCS)’s valuation declined by Rs 17,289.02 crore to Rs 11,75,287.30 crore and that of ICICI Bank declined by Rs 14,447.69 crore to Rs 6,07,140.65 crore. The market capitalization of State Bank of India declined by Rs 11,245.01 crore to Rs 5,36,012.18 crore. HDFC’s valuation declined by Rs 7,419.45 crore to Rs 4,74,018.02 crore and Reliance Industries Ltd’s valuation declined by Rs 7,408.2 crore to Rs 17,16,571.25 crore. The market capitalization of Bharti Airtel declined by Rs 5,621.27 crore to Rs 4,43,356.45 crore.
However, LIC added Rs 14,105.09 crore, taking its valuation to Rs 4,47,114.09 crore. The mcap of Hindustan Unilever rose by Rs 4,053.05 crore to Rs 6,05,489.67 crore. Reliance Industries remained the most valued firm, followed by TCS, HDFC Bank, Infosys, ICICI Bank, Hindustan Unilever, State Bank of India, HDFC, LIC and Bharti Airtel.