Mcap of five of top-10 most valued firms erode by Rs 1.67 lakh crore; HDFC Bank biggest laggard
While Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, Hindustan Unilever and State Bank of India faced erosion in their valuation, ICICI Bank, Infosys, Bharti Airtel, Life Insurance Corporation of India (LIC) and ITC were the gainers in the top-10 pack.
The market valuation of HDFC Bank eroded by Rs 1,22,163.07 crore to Rs 11,22,662.76 crore.
Shares of HDFC Bank fell for the third day in a row on Friday, tumbling over 12 per cent, as investors deserted the counter after the company’s December quarter earnings failed to impress the market. HDFC Bank shares bounced back on Saturday, climbing 0.54 per cent.
Reliance Industries valuation fell by Rs 18,199.35 crore to Rs 18,35,665.82 crore.
Hindustan Unilever’s market valuation diminished by Rs 17,845.15 crore to Rs 5,80,184.57 crore and that of TCS declined by Rs 7,720.6 crore to Rs 14,12,613.37 crore.
The market capitalisation (mcap) of State Bank of India dipped Rs 2,008.04 crore to Rs 5,63,589.24 crore. However, the mcap of LIC jumped Rs 67,456.1 crore to reach Rs 5,92,019.78 crore.
Life Insurance Corporation of India (LIC) surpassed State Bank of India (SBI) to become the country’s most valued PSU firm by market valuation on Wednesday.
Bharti Airtel added Rs 26,380.94 crore taking its market valuation to Rs 6,31,679.96 crore.
The mcap of Infosys climbed Rs 15,170.75 crore to Rs 6,84,305.90 crore and that of ICICI Bank rallied Rs 3,163.72 crore to Rs 7,07,373.79 crore.
ITC’s valuation climbed Rs 2,058.48 crore to Rs 5,84,170.38 crore.
Reliance Industries continued to rule the top-10 most valued firms ranking chart followed by TCS, HDFC Bank, ICICI Bank, Infosys, Bharti Airtel, LIC, ITC, Hindustan Unilever and State Bank of India.