Latest News | Mcap of 9 of Top-10 Most Valued Firms Erodes by over Rs 3 Lakh Cr; RIL Top Drag
Get latest articles and stories on Latest News at LatestLY. Nine of the top-10 most valued companies together lost a whopping Rs 3,09,178.44 crore in market valuation last week as selloffs continued.
New Delhi, Jan 30 (PTI) Nine of the top-10 most valued companies together lost a whopping Rs 3,09,178.44 crore in market valuation last week as selloffs continued.
In a holiday-shortened past week, the 30-share BSE Sensex plummeted 1,836.95 points or 3.11 per cent amid geopolitical tensions, global sell-off triggered by a hawkish US Federal Reserve and unabated foreign fund outflows.
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From the top-10 list, State Bank of India was the lone gainer as its valuation jumped Rs 18,340.07 crore to reach Rs 4,67,069.54 crore.
Coming to those whose valuation got eroded were Reliance Industries Limited (RIL), Tata Consultancy Services (TCS), HDFC Bank, Infosys, ICICI Bank, Hindustan Unilever Ltd (HUL), HDFC, Bajaj Finance and Bharti Airtel.
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The market valuation of RIL diminished by Rs 96,512.22 crore to Rs 15,79,779.47 crore, taking the biggest hit among the top-10 firms.
TCS suffered an erosion of Rs 53,488.29 crore to Rs 13,65,042.43 crore from its valuation.
The market capitalisation (mcap) of Infosys tumbled Rs 42,392.63 crore to Rs 7,08,751.77 crore and that of HDFC Bank tanked Rs 31,815.01 crore to reach Rs 8,11,061.12 crore.
The valuation of Bajaj Finance declined by Rs 30,333.64 crore to Rs 4,14,699.49 crore and that of ICICI Bank dipped by Rs 16,291.53 crore to Rs 5,42,407.86 crore.
Bharti Airtel's market capitalisation plunged Rs 15,814.77 crore to Rs 3,93,174.23 crore.
The valuation of HDFC diminished by Rs 13,319.96 crore to Rs 4,56,102.42 crore and that of HUL went lower by Rs 9,210.39 crore to Rs 5,36,411.69 crore.
In the ranking of top-10 firms, RIL remained the most valued company by market valuation followed by TCS, HDFC Bank, Infosys, ICICI Bank, HUL, State Bank of India, HDFC, Bajaj Finance and Bharti Airtel.
(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)