Mumbai: The combined market valuation of 8 of the top-10 most valued firms eroded Rs 1,65,784.9 crore last week. Last week, the BSE Sensex declined 628.15 points, or 0.82 per cent, while the NSE Nifty went lower 133.35 points, or 0.58 per cent. Tata Consultancy Services (TCS) was the top loser.
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.
The market valuation of TCS tanked Rs 53,185.89 crore to Rs 13,69,717.48 crore. Bharti Airtel’s market capitalisation (mcap) dropped Rs 44,407.77 crore to Rs 9,34,223.77 crore.
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The valuation of ICICI Bank tumbled Rs 18,235.45 crore to Rs 8,70,579.68 crore and that of Hindustan Unilever plunged Rs 17,962.62 crore to Rs 5,26,684.38 crore. Infosys faced an erosion of Rs 17,086.61 crore to Rs 7,53,700.15 crore from its market valuation.
The mcap of ITC eroded Rs 11,949.42 crore to Rs 5,01,750.43 crore and that of HDFC Bank diminished Rs 2,555.53 crore to Rs 12,94,152.82 crore. State Bank of India’s valuation declined Rs 401.61 crore to Rs 6,43,955.96 crore.
However, the mcap of Reliance Industries jumped Rs 14,547.3 crore to Rs 16,61,369.42 crore. Bajaj Finance added Rs 384.33 crore to Rs 5,20,466.75 crore in its mcap.
Reliance Industries remained the most valued firm followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, Hindustan Unilever, Bajaj Finance, and ITC.
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