Top-10 most valued firms lose over Rs 2.29 lakh crore in m-cap
The deep plunge in India equity benchmarks eroded the market capitalisation (m-cap) of the top-10 most valued companies by nearly Rs 2.3 lakh crore last week, with the shares of Life Insurance Corporation (LIC) taking the biggest hit. Here Is Your 10-Point Guide To The Story:The 30-share BSE Sensex crashed 1,017 points or 1.84 per cent to close at 54,303 today, while the broader NSE Nifty moved 276 points or 1.68 per cent down to settle at 16,202. Investors lost Rs 3.11 lakh crore in Friday’s session, with the market capitalisation of all BSE-listed companies falling to Rs 2,51,84,358.86 crore. The combined market cap of the top-1o most valued firms fell nearly Rs 2.3 lakh crore.Indeed, Reliance Industries’ valuation fell by Rs 44,311.19 crore to Rs 18,36,039.28 crore.Top information technology heavyweights, TCS and Infosys, lost a culmulative Rs 45,746.13 crore. The valuation of TCS stood at Rs 12,31,398.85 crore, while that of Infosys was Rs 6,21,502.63 crore.The country’s top lenders, HDFC Bank, ICICI Bank and SBI, saw a cumulative erosion of Rs 34,970.26 crore in their market capitalisation. HDFC Bank’s valuation dipped by Rs 16,433.92 crore to Rs 7,49,880.79 crore.The m-cap of State Bank of India (SBI) plunged by Rs 2,231.15 crore to Rs 4,12,138.56 crore, and that of ICICI Bank slumped by Rs 16,305.19 crore to Rs 5,00,744.27 crore.The valuation of Hindustan Unilever Ltd (HUL) tanked by Rs 21,674.98 crore to Rs 5,16,886.58 crore, while Life Insurance Corporation (LIC) declined by Rs 57,272.85 crore to Rs 4,48,885.09 crore.HDFC’s valuation slipped by Rs 17,879.22 crore to Rs 3,95,420.14 crore.Telecom major Bharti Airtel also witnessed a dip of Rs 7,359.31 crore from its market valuation, which stood at Rs 3,69,613.44 crore.In the top-10 firm rankings, Reliance Industries retained the title of the most valued firm, followed by TCS, HDFC Bank, Infosys, HUL, ICICI Bank, LIC, SBI, HDFC and Bharti Airtel.
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