Reliance, TCS emerge biggest laggards as m-cap of these top 10 most valued firms take a massive hit

Market capitalisation (m-cap) of the top-10 most valued companies eroded by over Rs 2.09 lakh crore last week, with Reliance Industries and TCS taking the biggest hit amid an overall weak trend in equities.

On a weekly basis, domestic equity benchmarks witnessed heavy selling. The 30-share BSE Sensex plummeted 1,145.23 points or 1.93 per cent.

Corporate major Reliance Industries’ m-cap plunged from Rs 67,722.33 crore to Rs 15,04,001.93 crore.

IT bellwether TCS’s market valuation tumbled from Rs 55,654.17 crore to Rs 11,63,194.14 crore, and that of Infosys nosedived from Rs 21,250.8 crore to Rs 5,97,905.17 crore.

The valuation of State Bank of India (SBI) diminished by Rs 16,108.93 crore to Rs 4,72,290.46 crore, and that of ITC tanked by Rs 15,226.12 crore to Rs 4,66,696.21 crore.

M-cap of telecom major Bharti Airtel slumped by Rs 9,053.44 crore to Rs 4,22,177.07 crore, and that of HDFC Bank declined by Rs 8,982.11 crore to Rs 8,77,318.09 crore.

HDFC also witnessed a dip of Rs 8,063.79 crore in its market valuation, which stood at Rs 4,69,460.45 crore.

Private sector lender ICICI Bank’s m-cap declined Rs 4,396.91 crore to Rs 5,83,983.07 crore, and that of Hindustan Unilever Ltd (HUL) slipped by Rs 3,465.65 crore to Rs 5,75,273.92 crore.

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