The M-cap of the 9 most valued companies erodes by more than Rs 3 trn

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Nine of the 10 most valuable companies together lost a whopping Rs 3,09,178.44 crore (about 3 trillion rupees) in market value last week as sales continued.

In a holiday week, the 30-stock BSE Sensex fell 1,836.95 points or 3.11% amid geopolitical tensions, global selling triggered by a hawkish US Federal Reserve and exits from foreign funds relentlessly.

In the top 10 list, State Bank of India was the sole winner as its valuation jumped from Rs 18,340.07 crore to Rs 4,67,069.54 crore.

Among those whose valuation has eroded are Reliance Industries Limited (RIL), Tata Consultancy Services (TCS), HDFC Bank, Infosys, ICICI Bank, Hindustan Unilever Ltd (HUL), HDFC, Bajaj Finance and Bharti Airtel.

RIL’s market valuation declined from Rs 96,512.22 crore to Rs 15,79,779.47 crore, taking the biggest hit among the top 10 companies.

TCS has been eroded from Rs 53,488.29 crore to Rs 13,65,042.43 crore in its valuation.

The market capitalization (mcap) of Infosys fell from Rs 42,392.63 crore to Rs 7,08,751.77 crore and that of HDFC Bank fell from Rs 31,815.01 crore to Rs 8,11,061.12 crore.

The valuation of Bajaj Finance decreased from Rs 30,333.64 crore to Rs 4,14,699.49 crore and that of ICICI Bank decreased from Rs 16,291.53 crore to Rs 5,42,407.86 crore.

Bharti Airtel’s market cap fell from Rs 15,814.77 crore to Rs 3,93,174.23 crore.

The valuation of HDFC decreased from Rs 13,319.96 crore to Rs 4,56,102.42 crore and that of HUL decreased from Rs 9,210.39 crore to Rs 5,36,411.69 crore.

In the top 10 ranking, 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.

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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