Mcap of seven of top 10 firms declines by ₹80,200 crore; TCS, HDFC Bank biggest laggards

PTI Updated - August 20, 2023 at 02:00 PM.
Representative image | Photo Credit: Andreas Balg

The combined market valuation of seven of the top 10 valued firms declined by ₹80,200.24 crore last week amid a weak trend in equities, with Tata Consultancy Services and HDFC Bank emerging as the biggest laggards.

In a holiday-shortened last week, the BSE benchmark fell by 373.99 points or 0.57 per cent.

From the top 10 pack, Reliance Industries, Hindustan Unilever and Infosys were the gainers while Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank, ITC, State Bank of India, Bharti Airtel and Bajaj Finance saw a decline in their valuation.

The market valuation of Tata Consultancy Services (TCS) tanked ₹29,894.45 crore to ₹12,32,240.44 crore.

HDFC Bank's valuation declined by ₹19,664.06 crore to ₹12,02,728.20 crore.

The market valuation of Bajaj Finance eroded by ₹12,233.5 crore to ₹4,15,763.47 crore and that of ITC tumbled ₹8,338.45 crore to ₹5,50,821.26 crore.

Bharti Airtel's market capitalisation (mcap) fell by ₹8,081.38 crore to ₹4,78,730.70 crore and that of State Bank of India dipped ₹1,026.33 crore to ₹5,11,424.89 crore.

The mcap of ICICI Bank diminished by ₹962.07 crore to ₹6,65,550.83 crore.

However, Hindustan Unilever added ₹12,347.1 crore taking its market valuation to ₹6,00,250.08 crore.

The mcap of Infosys jumped ₹6,972.87 crore to ₹5,76,379.26 crore and that of Reliance Industries climbed ₹5,886.09 crore to ₹17,29,764.68 crore.

In the ranking of top 10 companies, Reliance Industries remained the most valued firm followed by TCS, HDFC Bank, ICICI Bank, Hindustan Unilever, Infosys, ITC, State Bank of India, Bharti Airtel and Bajaj Finance.

Also read — Market Valuations High, Consumer Trends Uncertain: How Should Investors Strategise?

Published on August 20, 2023 08:30

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