Mcap: 6 of top 10 valued firms take ₹1.40 lakh crore hit; TCS, Infosys biggest laggards

The combined market valuation of six of the top 10 valued firms eroded by ₹1,40,478.38 crore in a holiday-shortened week, with IT majors Tata Consultancy Services (TCS) and Infosys taking the maximum hit.

Last week, the BSE benchmark declined 1,156.57 points or 1.55 per cent. Stock markets were closed on Wednesday on account of Ram Navami.

While Reliance Industries, HDFC Bank, Bharti Airtel and Life Insurance Corporation of India (LIC) were the gainers from the top-10 pack, TCS, ICICI Bank, State Bank of India, Infosys, ITC and Hindustan Unilever suffered erosion in their valuation.

The market valuation of TCS tanked by ₹62,538.64 crore to ₹13,84,804.91 crore, the most among the top 10 firms.

Infosys faced an erosion of ₹30,488.12 crore from its valuation which stood at ₹5,85,936.45 crore. Shares of Infosys on Friday ended nearly 1 per cent lower after the company’s revenue growth guidance for FY25 failed to meet market expectations.

The market capitalisation (mcap) of ICICI Bank diminished by ₹26,423.74 crore to ₹7,49,023.89 crore and that of State Bank of India declined by ₹14,234.76 crore to ₹6,70,059.86 crore.

The valuation of ITC slumped ₹6,616.9 crore to ₹5,30,350.97 crore and that of Hindustan Unilever went lower by ₹176.22 crore to ₹5,24,487.51 crore.

However, Bharti Airtel’s mcap zoomed ₹37,797.09 crore to ₹7,30,658.36 crore and that of HDFC Bank climbed ₹9,420.17 crore to ₹11,63,314.93 crore.

Reliance Industries added ₹4,397.82 crore taking its valuation to ₹19,90,195.52 crore and the mcap of LIC advanced ₹1,201.75 crore to ₹6,15,453.90 crore.

In the ranking of top-10 firms, Reliance Industries remained the most valued company followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, State Bank of India, LIC, Infosys, ITC and Hindustan Unilever.

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