Key Highlights:
- TCS lost the most — Rs 47,487 crore in a week.
- 7 of the top 10 firms saw combined erosion of Rs 1.35 lakh crore.
- Only Reliance, HDFC Bank, and HUL gained market value.
Mumbai: In the last week, the total market value of seven out of the top ten most valuable companies in India dropped by Rs 1.35 lakh crore. Tata Consultancy Services (TCS) was the biggest loser, followed by Bharti Airtel and Infosys.
TCS saw its valuation go down by Rs 47,487 crore to Rs 10.86 lakh crore. Bharti Airtel’s market value fell by Rs 29,936 crore, bringing it to Rs 10.74 lakh crore. Infosys also faced a hit of Rs 18,694 crore, lowering its value to Rs 6.10 lakh crore.
Banks and Bajaj Finance also faced pressure
Not just tech and telecom, even financial companies felt the heat. Bajaj Finance's market cap dropped by Rs 22,806 crore to Rs 5.44 lakh crore. State Bank of India lost Rs 11,584 crore, while ICICI Bank's value fell by Rs 3,608 crore. LIC, India’s largest insurer, saw a smaller decline of Rs 1,233 crore.
This fall came as the BSE Sensex dropped by 863 points or 1.05% during the week, impacting the broader market.
Reliance, HDFC Bank and HUL buck the trend
While most big companies saw losses, three firms actually gained value. Hindustan Unilever Ltd (HUL) added Rs 32,013 crore, taking its valuation to Rs 5.99 lakh crore. HDFC Bank’s market cap rose by Rs 5,946 crore, while Reliance Industries gained Rs 2,029 crore.
Reliance remains the most valued company in India with Rs 18.85 lakh crore in market cap. It is followed by HDFC Bank and TCS.
(With PTI Inputs)
