Top-7 cos’ mcap shrinks by `1 lakh cr
SBI remained as biggest laggard as its Q1 earnings failed to cheer investors
image for illustrative purpose
New Delhi The combined market valuation of seven of the top-10 most valued firms eroded by Rs1,09,947.86 crore last week, with State Bank of India taking the biggest hit, in-tandem with weak trend in equities.
Last week, the BSE benchmark fell by 438.95 points or 0.66 per cent. From the top-10 pack, Reliance Industries, ICICI Bank, Hindustan Unilever, ITC, State Bank of India, Bharti Airtel and Bajaj Finance were the laggards while Tata Consultancy Services (TCS), HDFC Bank and Infosys witnessed addition in their market valuation. The valuation of State Bank of India tumbled Rs38,197.34 crore to Rs5,11,603.38 crore. Shares of State Bank of India on Friday fell by nearly 3 per cent after the company’s first quarter earnings failed to cheer investors. The market capitalisation (mcap) of ICICI Bank eroded by Rs17,201.84 crore to Rs6,79,293.90 crore. ITC’s valuation tanked Rs16,846.18 crore to Rs5,66,886.01 crore and that of Bajaj Finance fell by Rs14,366.34 crore to Rs4,32,932.18 crore.
