Eight of the top 10 valued companies witnessed a combined erosion of Rs 1,80,534.34 crore in their market valuation last week, mainly dragged down by IT majors Tata Consultancy Services (TCS) and Infosys.
Only Reliance Industries Limited (RIL) and State Bank of India (SBI) emerged as gainers in the top 10 list.
Last week, the 30-share Bombay Stock Exchange benchmark tumbled 1,282.89 points or 2.13 per cent. Market benchmarks witnessed losses for the fourth straight session on Friday.
The market capitalisation (m-cap) of TCS fell by Rs 52,526.53 crore to reach Rs 13,79,487.23 crore whereas the valuation of Infosys dipped Rs 41,782.4 crore to Rs 7,06,249.77 crore.
HDFC's valuation tanked Rs 22,643.11 crore to Rs 4,90,430.74 crore and that of ICICI Bank plunged Rs 21,095.77 crore to Rs 4,79,985.13 crore.
The market capitalisation of Bajaj Finance eroded by Rs 16,438.9 crore to Rs 4,54,026.68 crore and that of HDFC Bank tanked Rs 10,410.41 crore to Rs 8,76,329.45 crore.
The valuation of Hindustan Unilever Limited (HUL) declined by Rs 9,222.14 crore to Rs 6,34,977.04 crore and that of Kotak Mahindra Bank by Rs 6,415.08 crore to Rs 3,95,563.67 crore.
On the other hand, RIL added Rs 25,294.38 crore taking its valuation to Rs 15,99,346.41 crore.
The valuation of SBI also increased by Rs 9,773.33 crore to Rs 4,03,169.33 crore.
Among the ranking of top 10 firms, Reliance Industries Limited remains the most valued company followed by TCS, HDFC Bank, Infosys, HUL, HDFC, ICICI Bank, Bajaj Finance, SBI and Kotak Mahindra Bank.
Copyright©2023 Living Media India Limited. For reprint rights: Syndications Today