Mumbai: The combined market capitalization of 5 of the top-10 most-valued companies fell by Rs 1,85,952.31 crore last week. During the same period, the BSE Sensex dropped 1,844.2 points (2.32 per cent), while the NSE Nifty shed 573.25 points (2.38 per cent).
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.
Market valuations of Reliance Industries, HDFC Bank, ICICI Bank, State Bank of India, and ITC decreased, whereas Tata Consultancy Services (TCS), Bharti Airtel, Infosys, Hindustan Unilever, and HCL Technologies saw gains.
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HDFC Bank’s market valuation declined by Rs 70,479.23 crore, settling at Rs 12,67,440.61 crore. ITC’s market capitalization dropped Rs 46,481 crore to Rs 5,56,583.44 crore. State Bank of India saw a reduction of Rs 44,935.46 crore to Rs 6,63,233.14 crore, while Reliance Industries lost Rs 12,179.13 crore, bringing its valuation to Rs 16,81,194.35 crore. ICICI Bank’s market cap fell by Rs 11,877.49 crore to Rs 8,81,501.01 crore.
On the other hand, TCS added Rs 60,168.79 crore, reaching a valuation of Rs 15,43,313.32 crore. HCL Technologies’ market cap increased by Rs 13,120.58 crore to Rs 5,41,539.01 crore. Infosys added Rs 11,792.44 crore to reach Rs 8,16,626.78 crore, while Bharti Airtel grew by Rs 8,999.41 crore, reaching Rs 9,19,933.99 crore. Hindustan Unilever’s valuation rose by Rs 8,564.26 crore to Rs 5,73,758.44 crore.
Reliance Industries retained its position as the most valued domestic company, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, Hindustan Unilever, ITC, and HCL Technologies.
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