Mumbai: Combined market valuation of 4 of India’s 10- most valued companies slipped down by Rs 1.25 lakh crore last week. The decline came as the BSE Sensex dipped by 428.87 points or 0.55%, and NSE Nifty fell by 111 points or 0.47% during the same period.
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.
Reliance Industries took the biggest hit in this market crash, with its valuation crashing by Rs 74,969.35 crore to Rs 16,85,998.34 crore. The Life Insurance Corporation of India (LICI) also saw a major dip in its valuation by Rs 21,251.99 crore to Rs 5,19,472.06 crore. The market valuations of State Bank of India and ICICI Bank fell by Rs 17,626.13 crore and Rs 11,549.98 crore respectively.
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Infosys witnessed a significant surge of Rs 24,934.38 crore, taking its total valuation to Rs 7,78,612.76 crore. HDFC Bank also saw an increase in its valuation by Rs 9,828.08 crore, while Bharti Airtel’s market cap jumped by Rs 9,398.89 crore during this period.
Tata Consultancy Services (TCS) witnessed its market capitalization rise by Rs 9,262.3 crore to Rs 15,01,976.67 crore. Hindustan Unilever and ITC saw their valuations jumped Rs 3,442.15 crore and Rs 1,689.08 crore respectively.
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