TCS took the biggest hit as its market valuation tumbled  ₹99,270.07 crore to reach  ₹10,95,355.32 crore, even as shares of TCS dropped last week.

Mcap of 6 of top-10 firms lose ₹1.68 lakh crore dragged down by TCS amid overall weak market trend

The combined market capitalization six of the 10 most valued firms suffered a combined erosion of 1,68,260.37 crore from valuation last week, primarily dragged down by IT major TCS on the back of overall weak trend in the equity market.

The 30-share BSE benchmark Sensex fell 721.06 points or 1.32 per cent last week. From the laggards, Tata Consultancy Services (TCS) took the biggest hit as its market valuation tumbled 99,270.07 crore to reach 10,95,355.32 crore, even as shares of TCS dropped last week after the company’s June quarter earnings failed to meet market expectations.

Additionally, another IT major Infosys suffered an erosion of 35,133.64 crore, taking its valuation to 6,01,900.14 crore. While HDFC Bank’s market valuation fell by 18,172.43 crores to 7,57,659.72 crore, valuations for State Bank of India (SBI) declined by 8,433.76 crores to 4,27,488.90 crores.

The market capitalization of HDFC dipped by 4,091.62 crores to reach 4,02,121.99 crore and that of ICICI Bank went lower by 3,158.85 crores to 5,22,498.11 crore. In contrast, the valuation of Hindustan Unilever Ltd (HUL) jumped 17,128.52 crores to 6,03,551.26 crore.

Reliance Industries added 6,801.72 crore, taking its market valuation to 16,24,681.08 crore. ITC’s m-cap climbed 1,318.81 crores to 3,62,327.81 crore and that of Life Insurance Corporation of India (LIC) went higher by 316.25 crores to 4,48,157.71 crores.

Meanwhile, just last week, Hindustan Unilever emerged as the biggest gainer. While the BSE benchmark Sensex advanced 1,573.91 points or 2.97% last week and from the top-10 pack, Reliance Industries and Tata Consultancy Services (TCS) were the only laggards. The market capitalization of TCS had declined by 18,770.93 crores to 11,94,625.39 crore and the country’s largest software exporter TCS last week reported a 5.2% rise in June quarter net profit to 9,478 crores. The results were declared post market hours.

These are the ranking of top-10 firms, Reliance Industries continued to remain the most valued domestic company, followed by TCS, HDFC Bank, HUL, Infosys, ICICI Bank, LIC, SBI, HDFC and ITC.

(With inputs from PTI)

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