Mcap of 6 of top-10 most-valued firms erode Rs 1.55 lakh cr; Reliance biggest laggard

The combined market valuation of six of the top-10 most-valued firms eroded Rs 1,55,721.12 crore last week, with Reliance Industries emerging as the biggest laggard, in line with an overall weak trend in equities. Last week, the BSE benchmark declined 237.8 points, or 0.29 per cent.

While Reliance Industries, Bharti Airtel, ICICI Bank, ITC, Hindustan Unilever and Life Insurance Corporation of India (LIC) suffered erosion in their market valuation, Tata Consultancy Services (TCS), HDFC Bank, Infosys, and the State Bank of India were the gainers.

The valuation of Reliance Industries fell Rs 74,563.37 crore to Rs 17,37,556.68 crore.

Bharti Airtel’s valuation dropped Rs 26,274.75 crore to Rs 8,94,024.60 crore.

The market valuation of ICICI Bank slumped Rs 22,254.79 crore to Rs 8,88,432.06 crore and that of ITC tanked Rs 15,449.47 crore to Rs 5,98,213.49 crore. LIC’s market capitalisation (mcap) declined Rs 9,930.25 crore to Rs 5,78,579.16 crore and that of Hindustan Unilever went lower Rs 7,248.49 crore to Rs 5,89,160.01 crore. However, the valuation of TCS jumped Rs 57,744.68 crore to Rs 14,99,697.28 crore. The mcap of Infosys soared Rs 28,838.95 crore to Rs 7,60,281.13 crore and that of State Bank of India climbed Rs 19,812.65 crore to Rs 7,52,568.58 crore.

HDFC Bank added Rs 14,678.09 crore, taking its valuation to Rs 13,40,754.74 crore.

Reliance Industries remained the country’s most-valued firm, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, ITC, Hindustan Unilever, and LIC.