Top 10 Firms' Market Cap Drops by Rs 1.73 Lakh Cr: HDFC, LIC Hit Hard
May 12, 2024 10:30
The market valuation of six top-10 firms, including HDFC Bank and LIC, eroded by Rs 1.73 lakh crore last week, reflecting weak equities. Read more.
Illustration: Dominic Xavier/Rediff.com
New Delhi, May 12 (PTI) The combined market valuation of six of the top-10 most valued firms eroded by Rs 1,73,097.59 crore last week, with HDFC Bank and Life Insurance Corporation of India taking the maximum hit in line with weak equities.
Last week, the BSE benchmark tanked 1,213.68 points or 1.64 per cent.
The market valuation of HDFC Bank slumped Rs 60,678.26 crore to Rs 10,93,026.58 crore.
LIC's valuation tanked Rs 43,168.1 crore to Rs 5,76,049.17 crore.
Reliance Industries faced an erosion of Rs 36,094.96 crore to Rs 19,04,643.44 crore from its market valuation.
The market capitalisation (mcap) of ICICI Bank declined by Rs 17,567.94 crore to Rs 7,84,833.83 crore, and that of State Bank of India went lower by Rs 11,780.49 crore to Rs 7,30,345.62 crore.
ITC's valuation dipped by Rs 3,807.84 crore to Rs 5,40,838.13 crore.
However, the mcap of Hindustan Unilever climbed Rs 33,270.22 crore to Rs 5,53,822.16 crore.
Tata Consultancy Services (TCS) added Rs 20,442.2 crore, taking its valuation to Rs 14,09,552.63 crore.
The mcap of Bharti Airtel rallied by Rs 14,653.98 crore to Rs 7,38,424.68 crore, and that of Infosys went up by Rs 3,611.26 crore to Rs 5,91,560.88 crore.
Reliance Industries remained the most valued firm, followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, State Bank of India, Infosys, LIC, Hindustan Unilever and ITC.
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