Latest News | Eight of Top-10 Most-valued Firms Saw Combined Rs 1.60 Lakh Cr Erosion in Mkt Valuation Last Week
Get latest articles and stories on Latest News at LatestLY. The combined market valuation of eight of the top-10 most valued firms eroded by Rs 1,60,314.48 crore last week, with Reliance Industries taking the biggest hit, in line with a sluggish trend in equities.
New Delhi, May 11 (PTI) The combined market valuation of eight of the top-10 most valued firms eroded by Rs 1,60,314.48 crore last week, with Reliance Industries taking the biggest hit, in line with a sluggish trend in equities.
Last week, the BSE benchmark dropped 1,047.52 points, or 1.30 per cent.
While Reliance Industries, HDFC Bank, Tata Consultancy Services (TCS), Bharti Airtel, ICICI Bank, State Bank of India, Bajaj Finance, and ITC faced erosion from their market valuation, Infosys, and Hindustan Unilever made gains on the other hand.
The valuation of Reliance Industries tumbled Rs 59,799.34 crore to Rs 18,64,436.42 crore.
ICICI Bank's market valuation dropped Rs 30,185.36 crore to Rs 9,90,015.33 crore.
The valuation of HDFC Bank tanked Rs 27,062.52 crore to Rs 14,46,294.43 crore and that of State Bank of India dived Rs 18,429.34 crore to Rs 6,95,584.89 crore.
The market capitalisation (mcap) of Bajaj Finance diminished Rs 13,798.85 crore to Rs 5,36,927.95 crore.
The valuation of ITC declined Rs 8,321.89 crore to Rs 5,29,972.97 crore and that of Bharti Airtel fell Rs 2,138.29 crore to Rs 10,53,891.62 crore.
The mcap of TCS was down Rs 578.89 crore at Rs 12,45,418.09 crore.
However, the mcap of Hindustan Unilever Ltd jumped Rs 2,537.56 crore to Rs 5,48,382.85 crore.
Infosys added Rs 415.33 crore, taking its valuation to Rs 6,26,083.70 crore.
In the top-10 order, Reliance Industries remained the most-valued firm, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Hindustan Unilever, Bajaj Finance, and ITC.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)