Mcap of five of top-10 most valued firms erode by ₹1.67 lakh crore
The Hindu
The market valuation of top firms in India declined by ₹1,67,936.21 crore, with HDFC Bank being the biggest loser.
The combined market valuation of five of the top 10 valued firms eroded by ₹1,67,936.21 crore last week, with HDFC Bank emerging as the biggest loser.
Last week, the 30-share BSE benchmark fell by 1,144.8 points 1.57%. The NSE and BSE conducted normal trading sessions on January 20.
Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, Hindustan Unilever and State Bank of India faced erosion in their valuation, while ICICI Bank, Infosys, Bharti Airtel, Life Insurance Corporation of India (LIC) and ITC were the gainers in the top-10 pack.
The market valuation of HDFC Bank eroded by ₹1,22,163.07 crore ₹Rs 11,22,662.76 crore. The company’s shares fell for the third day in a row on Jan. 19, tumbling over 12%, as investors deserted the counter after the company’s December quarter earnings failed to impress the market. HDFC Bank shares bounced back on Jan. 20, climbing 0.54%.
Reliance Industries valuation fell by ₹18,199.35 crore to ₹18,35,665.82 crore. Hindustan Unilever’s market valuation diminished by ₹17,845.15 crore to ₹5,80,184.57 crore. TCS’ valuation declined by ₹7,720.6 crore to ₹14,12,613.37 crore.
The market capitalisation (m-cap) of State Bank of India dipped ₹2,008.04 crore to ₹5,63,589.24 crore. However, the mcap of Life Insurance Corporation of India (LIC) jumped ₹67,456.1 crore to reach ₹5,92,019.78 crore LIC surpassed SBI) to become the country's most valued PSU firm by market valuation on Wednesday.
Bharti Airtel added ₹26,380.94 crore taking its market valuation to ₹6,31,679.96 crore.
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