Mcap of seven of top-10 most valued firms erode by Rs 1 lakh crore; State Bank biggest laggard

The combined market valuation of seven of the top-10 most valued firms eroded by Rs 1,09,947.86 crore last week, with State Bank of India taking the biggest hit, in-tandem with a weak trend in equities. Last week, the BSE benchmark fell by 438.95 points or 0.66 per cent. From the top-10 pack, Reliance Industries, ICICI Bank, Hindustan Unilever, ITC, State Bank of India, Bharti Airtel and Bajaj Finance were the laggards while Tata Consultancy Services (TCS), HDFC Bank and Infosys witnessed addition in their market valuation. The valuation of State Bank of India tumbled Rs 38,197.34 crore to Rs 5,11,603.38 crore. Shares of State Bank of India on Friday fell by nearly 3 per cent after the company's first-quarter earnings failed to cheer investors.

The market capitalisation (mcap) of ICICI Bank eroded by Rs 17,201.84 crore to Rs 6,79,293.90 crore. ITC's valuation tanked Rs 16,846.18 crore to Rs 5,66,886.01 crore and that of Bajaj Finance fell by Rs 14,366.34 crore to Rs 4,32,932.18 crore. The mcap of Reliance Industries went lower by Rs 11,806 crore to Rs 16,98,270.74 crore and that of Hindustan Unilever declined by Rs 9,069.42 crore to Rs 5,98,299.92 crore.

Bharti Airtel's valuation dipped by Rs 2,460.74 crore to Rs 4,97,908.56 crore. However, the mcap of TCS jumped Rs 31,815.45 crore to Rs 12,59,555.25 crore. Infosys added Rs 15,791.49 crore taking its valuation to Rs 5,72,062.52 crore. The mcap of HDFC Bank climbed Rs 7,080.63 crore to Rs 12,47,403.26 crore. Reliance Industries remained the most valued firm of the country, followed by TCS, HDFC Bank, ICICI Bank, Hindustan Unilever, Infosys, ITC, State Bank of India, Bharti Airtel and Bajaj Finance.