8 of top 10 firms lose ₹1 lakh cr in mcap; Infosys, HDFC Bank, TCS worst hit
Eight of the top 10 most valued firms faced a combined erosion of ₹1,06,991.42 crore in market valuation last week, with IT majors Infosys and Tata Consultancy Services along with HDFC Bank taking the biggest hit.
Last week, the Sensex declined 940.37 points or 1.55 per cent.
Barring Hindustan Unilever and Life Insurance Corporation of India (LIC), eight firms suffered erosion from their market capitalisation (mcap). The market valuation of Infosys tumbled ₹25,185.37 crore to ₹6,09,687.79 crore, the most among the top 10 firms.
The mcap of HDFC Bank tanked ₹18,375.41 crore to ₹8,89,130 crore. The valuation of Tata Consultancy Services (TCS) eroded by ₹17,289.02 crore to ₹11,75,287.30 crore and that of ICICI Bank diminished by ₹14,447.69 crore to ₹6,07,140.65 crore.
Also read: India’s GDP growth estimated to slip to 7% in 2022-23: Govt data
State Bank of India’s market valuation slumped ₹11,245.01 crore to ₹5,36,012.18 crore.
HDFC’s valuation declined by ₹7,419.45 crore to ₹4,74,018.02 crore and that of Reliance Industries Limited fell by ₹7,408.2 crore to ₹17,16,571.25 crore.
The mcap of Bharti Airtel dipped ₹5,621.27 crore to ₹4,43,356.45 crore.
However, LIC added ₹14,105.09 crore, taking its valuation ₹4,47,114.09 crore.
The mcap of Hindustan Unilever jumped ₹4,053.05 crore to ₹6,05,489.67 crore.
Reliance Industries remained the most valued firm, followed by TCS, HDFC Bank, Infosys, ICICI Bank, Hindustan Unilever, State Bank of India, HDFC, LIC and Bharti Airtel.
