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Mcap of 8 top valued firms erodes by ₹1.65 trn, HDFC Bank biggest laggard
SUMMARY
The article from Business Standard reports that the combined market capitalization of eight of the top-10 most valued firms in India eroded by ₹1,65,501.49 crore last week, with HDFC Bank being the biggest laggard. Specifically:
HDFC Bank saw its valuation drop by ₹47,075.97 crore, bringing its market cap to ₹14,68,777.88 crore.
OTHER LOSERS
- ICICI Bank lost ₹30,677.44 crore, with its market cap at ₹10,10,375.63 crore.
- Reliance Industries declined by ₹21,516.63 crore, reaching ₹19,31,963.46 crore.
- State Bank of India eroded by ₹18,250.85 crore, with a market cap of ₹7,07,186.89 crore.
- Other firms like Bharti Airtel, LIC, Bajaj Finance, and Hindustan Unilever also saw declines.
TCS and Infosys were the only top-10 firms to gain, with TCS adding ₹22,215.06 crore to reach ₹12,47,190.95 crore and Infosys gaining ₹15,578.3 crore to ₹6,65,318.03 crore. Reliance Industries remained the most valued firm, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, LIC, Bajaj Finance, and Hindustan Unilever. The decline aligned with a bearish trend in domestic equities.
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