Mcap of 6 of top-10 most valued domestic firms decline by Rs 1 lakh crore; TCS, HDFC Bank gain

Six of the top-10 most valued domestic firms suffered a combined loss of Rs 1,02,280.51 crore in market valuation last week, amid a weak trend in equities, with Reliance Industries taking the biggest hit. Last week, the BSE benchmark slipped 405.21 points or 0.63 per cent amid a bearish trend in global equities and concerns over rate hikes by central banks of various countries. 

Among the top-10 companies, Reliance Industries, ICICI Bank, Hindustan Unilever, ITC, Infosys and State Bank of India faced decline from their market capitalisation (mcap).

However, Tata Consultancy Services (TCS), HDFC Bank, HDFC and Bharti Airtel emerged as the gainers.

The market valuation of Reliance Industries went down from Rs 40,695.15 crore to Rs 17,01,720.32 crore.

Hindustan Unilever's mcap also took a hit by Rs 17,222.5 crore to Rs 6,20,797.26 crore.

State Bank's valuation slid by Rs 14,814.86 crore to Rs 4,95,048.22 crore and that of Infosys declined by Rs 11,204.66 crore to Rs 5,25,228.89 crore.

The mcap of ITC went lower by Rs 10,625.95 crore to Rs 5,52,611.81 crore. ICICI Bank also fared poorly during the week as it dipped by Rs 7,717.39 crore to Rs 6,46,262.77 crore.

HDFC Bank was a gainer as it added Rs 23,525.6 crore in its valuation, taking its market valuation to Rs 9,18,984.17 crore.

The mcap of TCS also saw a jumpof Rs 15,441.19 crore to reach Rs 11,77,281.48 crore.

HDFC's valuation rose by Rs 13,821.74 crore to Rs 5,03,318.08 crore.Bharti Airtel also jumped by Rs 11,297.68 crore to reach Rs 4,77,710.47 crore.

In the ranking of top-10 most valued firms, Reliance Industries continued to rule the chart, followed by TCS, HDFC Bank, ICICI Bank, Hindustan Unilever, ITC, Infosys, HDFC, State Bank of India and Bharti Airtel.

(With inputs from PTI)