Mcap of nine of top-10 most valued firms erode by Rs 1.22 lakh cr; Reliance biggest laggard

HDFC Bank didn't witness a decline in its market valuation

Nine of the top-10 most valued firms faced a combined erosion of Rs 1,22,092.9 crore in market valuation last week amid weak trend in equities, with Reliance Industries emerging as the biggest laggard.

Last week, the 30-share BSE benchmark declined 843.86 points or 1.36 per cent.

Barring HDFC Bank, rest nine companies, including Tata Consultancy Services (TCS), Infosys, ICICI Bank and Hindustan Unilever, witnessed decline in their market valuation.

The valuation of Reliance Industries tanked Rs 29,767.66 crore to Rs 17,35,405.81 crore.

TCS faced an erosion of Rs 19,960.12 crore to Rs 11,84,837.43 crore in its market valuation.

The valuation of ICICI Bank plunged Rs 19,722.3 crore to Rs 6,29,380.54 crore and that of Infosys tumbled Rs 19,567.57 crore to Rs 6,40,617.19 crore.

The market capitalisation (mcap) of Hindustan Unilever went lower by Rs 11,935.92 crore to Rs 6,27,434.85 crore and that of State Bank of India declined by Rs 11,735.86 crore to Rs 5,38,421.83 crore.

Bharti Airtel's mcap dipped Rs 7,204.38 crore to Rs 4,57,325.46 crore and that of Adani Enterprises fell by Rs 1,903.8 crore to Rs 4,53,617.85 crore.

The mcap of HDFC went lower by Rs 295.29 crore to Rs 4,86,460.48 crore.

However, HDFC Bank added Rs 4,126.18 crore taking its valuation to Rs 9,13,726.29 crore.

Reliance Industries remained the most valued domestic firm followed by TCS, HDFC Bank, Infosys, ICICI Bank, Hindustan Unilever, State Bank of India, HDFC, Bharti Airtel and Adani Enterprises.