Mumbai: The combined market capitalisation of 4 of the top 10 most valuable companies declined by Rs 96,605.66 crore last week. During the same period, the BSE benchmark index climbed 524.04 points (0.66%), and the Nifty rose by 191.35 points (0.80%).
Among the top firms, Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank, and State Bank of India saw their valuations decrease. While Reliance Industries, Bharti Airtel, Infosys, ITC, Life Insurance Corporation of India (LIC), and Hindustan Unilever recorded gains, collectively adding Rs 82,861.16 crore to their market capitalisation.
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.
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HDFC Bank’s market valuation dropped by Rs 37,025.46 crore to Rs 13,37,919.84 crore. ICICI Bank saw a decline of Rs 29,324.55 crore, bringing its valuation to Rs 8,93,378.50 crore. TCS’s market cap decreased by Rs 24,856.26 crore to Rs 14,83,144.53 crore, and State Bank of India lost Rs 5,399.39 crore, reducing its valuation to Rs 7,08,168.60 crore.
In contrast, Reliance Industries’ market valuation surged by Rs 41,138.41 crore to Rs 16,93,373.48 crore. Hindustan Unilever’s valuation increased by Rs 15,331.08 crore to Rs 5,65,194.18 crore, while LIC added Rs 13,282.49 crore to reach Rs 5,74,689.29 crore. Infosys gained Rs 9,031.19 crore, pushing its valuation to Rs 8,04,834.34 crore.
ITC’s market cap rose by Rs 3,878.63 crore to Rs 6,03,064.44 crore, and Bharti Airtel added Rs 199.36 crore, bringing its valuation to Rs 9,10,934.58 crore.
Reliance Industries retained its position as the most valuable company, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, ITC, LIC, and Hindustan Unilever.
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