9 of top 10 firms lose ₹1.87 lakh crore in market valuation

Nine of the 10 most valued firms faced a combined erosion of ₹1,87,808.26 crore in market valuation last week, with HDFC Bank and Reliance Industries taking the biggest hit amid an overall weak trend in equities.

Last week, the BSE benchmark tumbled 1,538.64 points or 2.52 per cent amid concerns that the US Federal Reserve might raise interest rates further to curb inflation. Fresh foreign fund outflows also dented investor sentiments.

Barring ITC, all 10 firms, including Tata Consultancy Services (TCS), Infosys, ICICI Bank and Hindustan Unilever, were the laggards.

Also read: Seven of top 10 firms shed Rs 2.16 lakh cr in mcap

HDFC Bank’s valuation declined by ₹37,848.16 crore to ₹8,86,070.99 crore at close on Friday.

The market valuation of Reliance Industries fell by ₹36,567.46 crore to ₹16,14,109.66 crore.

The valuation of TCS tumbled ₹36,444.15 crore to ₹12,44,095.76 crore and that of HDFC tanked ₹20,871.15 crore to ₹4,71,365.94 crore.

Also read: 8 of top 10 firms lose ₹1 lakh cr in mcap; Infosys, HDFC Bank, TCS worst hit

The market capitalisation (mcap) of ICICI Bank fell by ₹15,765.56 crore to ₹5,86,154.58 crore and that of Infosys declined by ₹13,465.86 crore to ₹6,52,862.70 crore.

Bharti Airtel’s mcap dipped by ₹10,729.2 crore to ₹4,22,034.05 crore and that of State Bank of India went lower by ₹8,879.98 crore to ₹4,64,927.66 crore.

The valuation of Hindustan Unilever slipped ₹7,236.74 crore to ₹5,83,697.21 crore.
However, ITC added ₹2,143.73 crore taking its mcap to ₹4,77,910.85 crore.

Reliance Industries continued to retain the title of the most valued firm followed by TCS, HDFC Bank, Infosys, ICICI Bank, Hindustan Unilever, ITC, HDFC, State Bank of India and Bharti Airtel.