Top-8 firms lose Rs 1.66-trn mcap
Reliance, LIC biggest laggards
image for illustrative purpose
New Delhi: The combined market valuation of eight of the top-10 most valued firms eroded by Rs1,66,954.07 crore last week, with Reliance Industries (RIL) and Life Insurance Corporation of India emerging as the biggest laggards, in line with weak trend in equities.
Last week, the BSE benchmark slumped 1,276.04 points or 1.57 per cent. The market capitalisation (mcap) of Reliance Industries tanked Rs33,930.56 crore to Rs19,94,765.01 crore, the most among the top-10 firms. The valuation of Life Insurance Corporation of India (LIC) slumped Rs30,676.24 crore to Rs7,17,001.74 crore. State Bank of India lost Rs21,151.33 crore from its valuation which stood at Rs7,35,566.52 crore. The market valuation of Infosys dived Rs20,973.19 crore to Rs7,35,277.28 crore and that of Tata Consultancy Services (TCS) tumbled Rs19,157.77 crore to Rs15,30,469.11 crore.
Bharti Airtel’s mcap got wiped out by Rs16,993.56 crore to Rs8,33,396.32 crore and ICICI Bank suffered an erosion of Rs16,975.55 crore to Rs8,25,201.23 crore. The valuation of HDFC Bank declined by Rs7,095.87 crore to Rs12,56,505.53 crore. However, the mcap of Hindustan Unilever jumped Rs12,946.24 crore to reach Rs6,45,808.65 crore. The valuation of ITC climbed Rs8,406.26 crore to Rs6,19,829.37 crore. Reliance Industries retained the title of the most valued firm followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, LIC, Hindustan Unilever and ITC.
