Mumbai: The combined market valuation of 7 of India’s top 10 most valuable companies fell by Rs1,22,107.11 crore last week. The BSE Sensex dropped 307.09 points, or 0.37%, closing at 81,381.36 by the end of the week.
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.
Tata Consultancy Services (TCS), India’s largest IT firm by market value, saw its market capitalization (mcap) fall by Rs 35,638.16 crore to Rs 15,01,723.41 crore. Reliance Industries, the country’s largest firm by valuation, shed Rs 21,351.71 crore, bringing its mcap to Rs 18,55,366.53 crore.
Also Read: Foreign Portfolio Investors withdrew Rs 58,711 crore from Indian equities in October
The market valuation of ITC slipped by Rs 18,761.4 crore to Rs 6,10,933.66 crore. Hindustan Unilever Ltd (HUL) lost Rs 16,047.71 crore to settle at an mcap of Rs 6,53,315.60 crore. The market capitalization of Life Insurance Corporation (LIC) dropped by Rs 13,946.62 crore, standing at Rs 6,00,179.03 crore, while ICICI Bank saw its mcap decline by Rs 11,363.35 crore to Rs 8,61,696.24 crore. HDFC Bank, also witnessed a reduction in valuation by Rs 4,998.16 crore, closing the week at Rs 12,59,269.19 crore.
On the other hand, Bharti Airtel added Rs 26,330.84 crore to its market value, which now stands at Rs 9,60,435.16 crore. Infosys also gained Rs 6,913.33 crore, pushing its valuation to Rs 8,03,440.41 crore, while State Bank of India (SBI) registered a smaller increase of Rs 3,034.36 crore, bringing its mcap to Rs 7,13,968.95 crore.
Despite the week’s losses, Reliance Industries maintained its position as the most valued firm in India, followed by TCS, HDFC Bank, Bharti Airtel, and ICICI Bank.
Post Your Comments