Mumbai: The cumulative market capitalization (m-cap) of nine out of the top ten most valuable companies in India declined by 4,74,906.18 crore this week. The BSE Sensex plunged by 3,883.4 points, or 4.53 per cent, in a holiday-shortened trading week. This significant erosion was primarily attributed to escalating tensions in the Middle East and a notable exodus of foreign funds from Indian equities.
Market capitalisation or ‘market cap’ is a measure used to evaluate the total value of a publicly traded company. It is calculated by multiplying the current share price of the company by the total number of outstanding shares. In essence, market capitalisation represents the theoretical value of a company.
Reliance Industries Limited (RIL), India’s most valuable company, saw its market value shrink by Rs 1,88,479.36 crore to Rs 18,76,718.24 crore. The market value of HDFC Bank dropped by Rs 72,919.58 crore to Rs 12,64,267.35 crore.
Also Read: Mahindra launches new electric small commercial vehicle: Price, Features
Bharti Airtel and ICICI Bank also felt the heat, losing Rs 53,800.31 crore and Rs 47,461.13 crore in market cap, respectively. Other major corporations facing significant devaluations included Life Insurance Corporation of India (LIC), Hindustan Unilever, ITC, and Tata Consultancy Services (TCS). State Bank of India saw a comparatively smaller dip of Rs 5,399.39 crore in its market value.
Infosys emerged as the sole gainer among the top ten, with its market capitalization increasing by Rs 4,629.64 crore to reach Rs 7,96,527.08 crore.
Reliance Industries maintained its top position in the list of India’s most valuable companies, followed by TCS, HDFC Bank, Bharti Airtel, and ICICI Bank.
Post Your Comments