Mumbai: The combined market valuation of India’s top-10 most valued companies fell by Rs 4,95,061 crore. The BSE Sensex declined by 4,091.53 points or 4.98% in last week. The NSE Nifty recorded a sharp 4.77% decline, marking the steepest weekly fall since June 2022.
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.
TCS saw its market capitalisation drop by Rs 1,10,550.66 crore, reducing its value to Rs 15,08,036.97 crore. Reliance Industries followed with a loss of Rs 91,140.53 crore, bringing its valuation to Rs 16,32,004.17 crore.
Also Read: South Western Railway announces special train services between these cities: Details
Other notable losses included HDFC Bank, which lost Rs 76,448.71 crore to settle at Rs 13,54,709.35 crore. Bharti Airtel’s valuation declined by Rs 59,055.42 crore, dropping to Rs 8,98,786.98 crore. Market capitalization of State Bank of India (SBI) declined by Rs 43,909.13 to Rs 7,25,125.38 crore.
ICICI Bank’s market value declined by Rs 41,857.33 crore to Rs 9,07,449.04 crore. Infosys, shed Rs 32,300.2 cror and is now valued at Rs 7,98,086.90 crore M-cap of Life Insurance Corporation (LIC) declined by Rs 20,050.25 crore to Rs 5,69,819.04 crore. Hindustan Unilever, lost Rs 12,805.27 crore, reducing its valuation to Rs 5,48,617.81 crore. ITC fell by Rs 6,943.5 crore, with a valuation of Rs 5,81,252.32 crore
Despite significant losses, Reliance Industries remained the most valued company in India, followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, Infosys, SBI, ITC, LIC, and Hindustan Unilever in the rankings.