Mcap of 8 of top 10 most valued firms’ plunge by ₹2.08 lakh crore; Reliance, TCS most hit

Estimated read time 8 min read

Eight of the top-10 most valued firms’ combined market valuation plunged by 2,08,207.93 crore last week, with bellwether Reliance Industries, TCS and Infosys taking the biggest hit, reported news agency PTI on 2 May.

Along with RIL, TCS and Infosys, other firms whose m-cap declined include ITC, Life Insurance Corporation (LIC), Hindustan Unilever Ltd, Bharti Airtel and ICICI Bank.

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On the contrary, HDFC Bank and State Bank of India (SBI) emerged as gainers.

Snapping a five-day losing streak, the 30-share BSE Sensex tanked 1,449 points or 1.92 per cent. However, it surged by 75.71 points, or 0.10 per cent, to settle at 73,961.31 on Friday.

Reliance Industries’ market capitalisation decreased substantially, plunging by 67,792.23 crore to 19,34,717.12 crore. Similarly, TCS’s m-cap fell by 65,577.84 crore to 13,27,657.21 crore.

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The valuation of Infosys slumped by 24,338.1 crore to 5,83,860.28 crore, and that of ITC went lower by 12,422.29 crore to 5,32,036.41 crore.

LIC’s m-cap declined by 10,815.74 crore to 6,40,532.52 crore, while HUL’s valuation eroded by 9,680.31 crore to 5,47,149.32 crore.

Bharti Airtel’s mcap fell by 9,503.31 crore to 7,78,335.40 crore, and that of ICICI Bank dipped by 8,078.11 crore to 7,87,229.71 crore.

HDFC Bank’s m-cap surged 10,954.49 crore to 11,64,083.85 crore, and SBI added 1,338.7 crore, taking the market valuation to 7,40,832.04 crore.

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Meanwhile, RIL remained the most valued firm from the top-10 pack, followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, SBI, LIC, Infosys, Hindustan Unilever, and ITC.

With agency inputs.

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Published: 02 Jun 2024, 04:01 PM IST

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