New Delhi: The combined market valuation of five of the 10 most valued firms eroded by Rs1,97,958.56 crore last week, with IT majors Tata Consultancy Services (TCS) and Infosys taking the biggest hit amid volatile trends in equities.
Last week, the BSE benchmark climbed 188.51 points or 0.25 per cent.
The market valuation of TCS tanked Rs1,10,134.58 crore to Rs14,15,793.83 crore, the most among the top 10 firms.
The valuation of Infosys tumbled Rs52,291.05 crore to Rs6,26,280.51 crore.
IT stocks fell on Friday after tech giant Accenture lowered its revenue forecast for the sector for the 2023-24 fiscal.
Hindustan Unilever’s market valuation fell by Rs16,834.82 crore to Rs5,30,126.53 crore and that of Life Insurance Corporation of India (LIC) declined by Rs11,701.24 crore to Rs5,73,266.17 crore.
The market capitalisation (mcap) of HDFC Bank dipped Rs6,996.87 crore to Rs10,96,154.91 crore.
However, the valuation of Reliance Industries Limited jumped Rs49,152.89 crore to reach Rs19,68,748.04 crore.
State Bank of India added Rs12,851.44 crore, taking its mcap to Rs6,66,133.03 crore.
The mcap of ITC climbed Rs11,108.51 crore to Rs5,34,768.59 crore and that of Bharti Airtel went up by Rs9,430.48 crore to Rs6,98,855.66 crore.
ICICI Bank’s mcap jumped Rs8,191.79 crore to Rs7,65,409.98 crore.
In the ranking of the most valued firms, Reliance Industries retained the number one title followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, State Bank of India, Infosys, LIC, ITC and Hindustan Unilever.
PTI
