Mcap At Top-8 Cos Falls By Rs 3 Lakh Cr TCS Worst Hit

New Delhi: The combined market valuation of eight of the top-10 most valued firms eroded by Rs3,09,244.57 crore in a holiday-shortened last week, with Tata Consultancy Services (TCS) taking the biggest hit, in line with bearish trend in equities.

Last week, the BSE benchmark gauge Sensex tanked 2,112.96 points or 2.80 per cent, and the NSE Nifty tumbled 671.2 points or 2.94 per cent. In February alone, the Nifty dropped 1,383.7 points or 5.88 per cent. Sensex lost 4,302.47 points or 5.55 per cent. The market valuation of TCS plunged Rs1,09,211.97 crore to Rs12,60,505.51 crore, the most among the top-10 firms.

With the sharp decline in its market valuation TCS slipped to the third rank in the top-10 most valued firms chart from the previous second place. HDFC Bank overtook TCS to become the second most valuable firm. The valuation of Infosys tanked Rs52,697.93 crore to Rs7,01,002.22 crore. Bharti Airtel’s market valuation eroded by Rs39,230.1 crore to Rs8,94,993.67 crore and that of Reliance Industries dropped Rs38,025.97 crore to Rs16,23,343.45 crore.

State Bank of India’s valuation diminished by Rs29,718.99 crore to Rs6,14,236.97 crore. The market capitalisation (mcap) of ICICI Bank slumped Rs20,775.78 crore to Rs8,49,803.90 crore. Hindustan Unilever’s mcap declined by Rs11,700.97 crore to Rs5,14,983.41 crore. The valuation of ITC dipped Rs7,882.86 crore to Rs4,93,867.57 crore.