Top 8 Indian Firms Lose ₹2.07 Lakh Crore In Value, TCS & Airtel Take The Biggest Hit
Eight of India’s top 10 valued companies lost Rs 2.07 lakh crore in market capitalisation last week, led by TCS and Bharti Airtel. Only Bajaj Finance and HUL posted gains, amid broader market weakness.
The combined market valuation of eight of the top 10 valued firms eroded by Rs 2.07 lakh crore (Rs 2,07,501.58 crore). |
Mumbai: Mcap of eight of top-10 firms erodes by Rs 2.07 lakh cr; TCS, Airtel biggest laggards New Delhi, Jul 13 (PTI) The combined market valuation of eight of the top 10 valued firms eroded by Rs 2.07 lakh crore (Rs 2,07,501.58 crore) last week, with Tata Consultancy Services and Bharti Airtel emerging as the worst hit.
Last week, the benchmark BSE Sensex dropped 932.42 points or 1.11 per cent.
From the top 10 pack, only Bajaj Finance and Hindustan Unilever closed the week with gains in their valuation.
Among major losers, the market valuation of Tata Consultancy Services (TCS) tumbled Rs 56,279.35 crore to Rs 11,81,450.30 crore. Shares of TCS dropped nearly 3.50 per cent on Friday after its June quarter earnings failed to enthuse investors.
Bharti Airtel's valuation eroded by Rs 54,483.62 crore to Rs 10,95,887.62 crore.
The market valuation of Reliance Industries dropped by Rs 44,048.2 crore to Rs 20,22,901.67 crore and that of Infosys by Rs 18,818.86 crore to Rs 6,62,564.94 crore.
The market capitalisation (mcap) of ICICI Bank tanked Rs 14,556.84 crore to Rs 10,14,913.73 crore. The valuation of Life Insurance Corporation of India (LIC) diminished by Rs 11,954.25 crore to Rs 5,83,322.91 crore.
The mcap of HDFC Bank declined by Rs 4,370.71 crore to Rs 15,20,969.01 crore and that of State Bank of India went lower by Rs 2,989.75 crore to Rs 7,21,555.53 crore.
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However, the valuation of Hindustan Unilever Ltd jumped Rs 42,363.13 crore to Rs 5,92,120.49 crore. Shares of Hindustan Unilever Ltd (HUL) on Friday surged nearly 5 per cent after the company announced that Priya Nair will become its first woman CEO and MD.
The mcap of Bajaj Finance climbed Rs 5,033.57 crore to Rs 5,80,010.68 crore.
Reliance Industries was the most valued firm, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, LIC, Bajaj Finance and Hindustan Unilever in that order.
(Disclaimer: This story is from the syndicated feed. Nothing has been changed except the headline.)
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