Mumbai: The combined market capitalization of 8 out of the top 10 most valuable companies declined by Rs 3,09,244.57 crore in a holiday-shortened week. During the past week, the BSE Sensex plummeted by 2,112.96 points (2.80%), while the NSE Nifty fell by 671.2 points (2.94%). In February alone, the Nifty declined by 1,383.7 points (5.88%), and the Sensex shed 4,302.47 points (5.55%).
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.
Tata Consultancy Services was the top loser among the firms. The market valuation of Tata Consultancy Services (TCS) plunged by Rs 1,09,211.97 crore to Rs12,60,505.51 crore. Due to this sharp decline, TCS slipped to the third spot in market value rankings, with HDFC Bank surpassing it to become the second most valuable company.
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Infosys saw its valuation drop by Rs 52,697.93 crore to Rs 7,01,002.22 crore. Bharti Airtel’s market capitalization fell by Rs 39,230.1 crore to Rs 8,94,993.67 crore, while Reliance Industries’ valuation declined by Rs 38,025.97 crore to Rs 16,23,343.45 crore.
State Bank of India lost Rs 29,718.99 crore in market capitalization, bringing it down to Rs 6,14,236.97 crore. ICICI Bank’s valuation shrank by Rs 20,775.78 crore to Rs 8,49,803.90 crore. Hindustan Unilever saw its market cap drop by Rs 11,700.97 crore to Rs 5,14,983.41 crore, and ITC’s valuation dipped by Rs 7,882.86 crore to Rs 4,93,867.57 crore.
In contrast, HDFC Bank’s market capitalization increased by Rs 30,258.49 crore to Rs 13,24,411.31 crore, while Bajaj Finance gained Rs 9,050.24 crore, taking its valuation to Rs 5,29,516.99 crore.
Reliance Industries remained the most valuable company, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, Bajaj Finance, Hindustan Unilever, and ITC.
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