Nine of top 10 most valued cos lose Rs 3 lakh cr in m-cap; RIL top drag

The market valuation of nine of the top-10 most valued companies eroded by Rs 3,09,178.44 crore (around Rs 3 lakh crore) last week as selloffs continued.

In a holiday-truncated past week, the 30-share BSE Sensex nosedived 1,836.95 points or 3.11 per cent amid geopolitical tensions, unabated foreign fund outflows, and global sell-off triggered by a hawkish US Federal Reserve.

State Bank of India (SBI) was the only gainer on the top-10 list as its market capitalisation (m-cap) jumped Rs 18,340.07 crore to reach Rs 4,67,069.54 crore. Among the companies whose valuation got eroded included Reliance Industries Ltd. (RIL), Infosys, Tata Consultancy Services (TCS), Hindustan Unilever Ltd. (HUL), HDFC, HDFC Bank, ICICI Bank, Bharti Airtel, and Bajaj Finance.

Also Read: Top-10 most valued firms lose over Rs 2.53 lakh crore in m-cap

The market valuation of RIL diminished by Rs 96,512.22 crore to Rs 15,79,779.47 crore, taking the biggest hit among the top-10 firms.

TCS suffered an erosion of Rs 53,488.29 crore to Rs 13,65,042.43 crore from its valuation.

The market capitalisation (mcap) of Infosys tumbled Rs 42,392.63 crore to Rs 7,08,751.77 crore and that of HDFC Bank tanked Rs 31,815.01 crore to reach Rs 8,11,061.12 crore.

The valuation of Bajaj Finance declined by Rs 30,333.64 crore to Rs 4,14,699.49 crore and that of ICICI Bank dipped by Rs 16,291.53 crore to Rs 5,42,407.86 crore.

Also Read: M-cap of 8 of top-10 cos jumps over 2.34 lakh cr; RIL, Infosys, TCS top gainers

Bharti Airtel's market capitalisation plunged Rs 15,814.77 crore to Rs 3,93,174.23 crore.

The valuation of HDFC diminished by Rs 13,319.96 crore to Rs 4,56,102.42 crore and that of HUL went lower by Rs 9,210.39 crore to Rs 5,36,411.69 crore.

In the ranking of top-10 firms, RIL remained the most valued company by market valuation followed by TCS, HDFC Bank, Infosys, ICICI Bank, HUL, State Bank of India, HDFC, Bajaj Finance and Bharti Airtel.

(With inputs from PTI.)