Mcap of 6 of top-10 firms lose ₹1.68 lakh crore dragged down by TCS amid overall weak market trend

The 30-share BSE benchmark Sensex fell 721.06 points or 1.32 per cent last week. From the laggards, Tata Consultancy Services (TCS) took the biggest hit as its market valuation tumbled ₹99,270.07 crore to reach ₹10,95,355.32 crore, even as shares of TCS dropped last week after the company’s June quarter earnings failed to meet market expectations.

Additionally, another IT major Infosys suffered an erosion of ₹35,133.64 crore, taking its valuation to ₹6,01,900.14 crore. While HDFC Bank’s market valuation fell by ₹18,172.43 crore to ₹7,57,659.72 crore, valuations for State Bank of India (SBI) declined by ₹8,433.76 crore to ₹4,27,488.90 crore.

The market capitalisation of HDFC dipped by ₹4,091.62 crore to reach ₹4,02,121.99 crore and that of ICICI Bank went lower by ₹3,158.85 crore to ₹5,22,498.11 crore. In contrast, the valuation of Hindustan Unilever Ltd (HUL) jumped ₹17,128.52 crore to ₹6,03,551.26 crore.

Reliance Industries added ₹6,801.72 crore, taking its market valuation to ₹16,24,681.08 crore. ITC’s m-cap climbed ₹1,318.81 crore to ₹3,62,327.81 crore and that of Life Insurance Corporation of India (LIC) went higher by ₹316.25 crore to ₹4,48,157.71 crore.

Meanwhile, just last week, Hindustan Unilever emerged as the biggest gainer. While the BSE benchmark Sensex advanced 1,573.91 points or 2.97% last week and from the top-10 pack, Reliance Industries and Tata Consultancy Services (TCS) were the only laggards. The market capitalisation of TCS had declined by ₹18,770.93 crore to ₹11,94,625.39 crore and the country’s largest software exporter TCS last week reported a 5.2% rise in June quarter net profit to ₹9,478 crore. The results were declared post market hours.

These are the ranking of top-10 firms, Reliance Industries continued to remain the most valued domestic company, followed by TCS, HDFC Bank, HUL, Infosys, ICICI Bank, LIC, SBI, HDFC and ITC.

(With inputs from PTI)

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