Eight of the top 10 most valued companies in India saw a combined drop of Rs 1,28,913.5 crore in market capitalisation (mcap) last week, led by significant declines for IT giants Tata Consultancy Services (TCS) and Infosys.
TCS experienced the largest decrease, with its valuation falling by Rs 37,971.83 crore to Rs 15,49,626.88 crore. Infosys’ market cap dropped Rs 23,811.88 crore to Rs 7,56,250.47 crore.
ITC’s valuation fell by Rs 16,619.51 crore to Rs 6,11,423.11 crore, while State Bank of India’s market cap declined by Rs 13,431.54 crore to Rs 7,56,717.85 crore. Reliance Industries’ valuation decreased by Rs 13,125.49 crore to Rs 20,28,695.57 crore. Bharti Airtel’s market cap went down by Rs 11,821.5 crore to Rs 8,50,389.88 crore, and ICICI Bank saw a drop of Rs 7,843.75 crore to Rs 8,42,176.78 crore. Hindustan Unilever’s valuation decreased by Rs 4,288 crore to Rs 6,32,862.41 crore.
In contrast, HDFC Bank’s market capitalisation increased by Rs 32,759.37 crore to Rs 12,63,601.40 crore. Life Insurance Corporation of India (LIC) saw a rise of Rs 1,075.25 crore, reaching a valuation of Rs 7,47,677.98 crore.
Last week, the BSE benchmark index fell by 350.77 points, or 0.43 percent.
Reliance Industries remains the most valued firm, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, LIC, Hindustan Unilever, and ITC.