The combined market valuation of four of the top-10 most valued firms fell by Rs 23,417.15 crore last week, with IT majors Infosys and Tata Consultancy Services (TCS) taking the biggest hit. Last week, the BSE benchmark advanced 540.9 points or 0.84 per cent. While Reliance Industries Ltd, TCS, Hindustan Unilever Ltd and Infosys faced erosion from their market capitalisation (mcap), HDFC Bank, ICICI Bank, ITC, Bharti Airtel, State Bank of India and Bajaj Finance witnessed a combined addition of Rs 17,386.45 crore.
The market valuation of Infosys fell by Rs 8,465.09 crore to Rs 5,68,064.77 crore, the most among the top-10 firms. The mcap of TCS declined by Rs 6,604.59 crore to Rs 12,19,488.64 crore. Hindustan Unilever’s mcap diminished by Rs 5,133.85 crore to Rs 5,84,284.61 crore and that of Reliance Industries dipped by Rs 3,213.62 crore to Rs 15,65,781.62 crore.
However, the valuation of HDFC Bank jumped Rs 5,236.31 crore to Rs 11,31,079.20 crore. ICICI Bank added Rs 3,520.92 crore taking its market valuation to Rs 6,57,563.38 crore. The mcap of ITC climbed Rs 3,304.93 crore to reach Rs 5,44,004.63 crore. Bharti Airtel’s valuation surged Rs 2,669.67 crore to Rs 5,25,756.89 crore and that of Bajaj Finance gained Rs 1,539.04 crore to Rs 4,51,143.08 crore. State Bank of India added Rs 1,115.58 crore taking its market valuation to Rs 5,17,092.02 crore.
In the ranking of top-10 firms, Reliance Industries retained the most valued title followed by TCS, HDFC Bank, ICICI Bank, Hindustan Unilever, Infosys, ITC, Bharti Airtel, State Bank of India and Bajaj Finance.