Last week saw a drop in the market valuation of four of the top-10 most valued firms, with a combined decrease of Rs 23,417.15 crore. IT leaders Infosys and Tata Consultancy Services (TCS) were the hardest hit. The BSE benchmark advanced 540.9 points or 0.84% last week.
Reliance Industries Ltd, TCS, Hindustan Unilever Ltd, and Infosys all experienced a decrease in their market capitalization (mcap), while HDFC Bank, ICICI Bank, ITC, Bharti Airtel, State Bank of India, and Bajaj Finance saw a combined increase of Rs 17,386.45 crore.
Specifically, Infosys’ market valuation fell Rs 8,465.09 crore to Rs 5,68,064.77 crore, the most significant drop among the top-10 firms. TCS’s mcap declined Rs 6,604.59 crore to Rs 12,19,488.64 crore, while Hindustan Unilever’s mcap diminished Rs 5,133.85 crore to Rs 5,84,284.61 crore and Reliance Industries’ mcap dipped Rs 3,213.62 crore to Rs 15,65,781.62 crore. On the other hand, HDFC Bank’s valuation jumped Rs 5,236.31 crore to Rs 11,31,079.20 crore, ICICI Bank added Rs 3,520.92 crore, ITC climbed Rs 3,304.93 crore, Bharti Airtel’s valuation surged Rs 2,669.67 crore, and Bajaj Finance gained Rs 1,539.04 crore. State Bank of India added Rs 1,115.58 crore, taking its market valuation to Rs 5,17,092.02 crore.
In the top-10 ranking, Reliance Industries remained the most valued firm, followed TCS, HDFC Bank, ICICI Bank, Hindustan Unilever, Infosys, ITC, Bharti Airtel, State Bank of India, and Bajaj Finance.