Mumbai: The combined market capitalisation of 6 of India’s top 10 most valued firms dropped by Rs 1.71 lakh crore last week. During the previous week, the benchmark BSE Sensex fell by 759.58 points, or 0.98%, while the NSE Nifty declined by 228.3 points, or 0.97%.
Among the top 10 firms, the market valuation of Infosys, TCS, HDFC Bank, ICICI Bank, Hindustan Unilever, and ITC saw a collective erosion of Rs 1,71,680.42 crore. In contrast, Reliance Industries, Bharti Airtel, State Bank of India (SBI), and Life Insurance Corporation of India (LIC) experienced gains.
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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Infosys saw the biggest decline, with its market value shrinking by Rs 62,948.4 crore, bringing its valuation down to Rs 7,53,678.38 crore. TCS’s market capitalisation dropped by Rs 50,598.95 crore to Rs 14,92,714.37 crore. Hindustan Unilever lost Rs 20,605.92 crore, bringing its market value to Rs 5,53,152.52 crore, while ICICI Bank’s valuation decreased by Rs 16,005.84 crore to Rs 8,65,495.17 crore.
HDFC Bank’s market cap fell by Rs 15,640.8 crore to Rs 12,51,799.81 crore, and ITC saw a decline of Rs 5,880.51 crore, with its market valuation dropping to Rs 5,50,702.93 crore.
On the other hand, Reliance Industries posted the largest gain, with its market capitalisation rising by Rs 79,773.34 crore, reaching Rs 17,60,967.69 crore. SBI’s market value climbed by Rs 18,697.08 crore to Rs 6,81,930.22 crore, while LIC added Rs 9,993.5 crore, bringing its valuation to Rs 5,40,724.05 crore. Bharti Airtel’s market cap grew by Rs 7,080.98 crore, taking it to Rs 9,27,014.97 crore.
Reliance Industries remains the most valuable firm in India, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, SBI, Hindustan Unilever, ITC, and LIC.