Mcap: 6 of top 10 rated companies take hit of ₹1.40 lakh crore; TCS, the biggest laggards of Infosys

The combined market valuation of six of the top 10 most valued companies fell by ₹1,40,478.38 crore in a curtailed holiday week, with IT majors Tata Consultancy Services (TCS) and Infosys taking the biggest hit.

Last week, the benchmark BSE fell 1,156.57 points or 1.55 percent. The stock markets were closed on Wednesday due to Ram Navami.

While Reliance Industries, HDFC Bank, Bharti Airtel and Life Insurance Corporation of India (LIC) were the gainers from the top 10, TCS, ICICI Bank, State Bank of India, Infosys, ITC and Hindustan Unilever suffered valuation erosion.

TCS’s market valuation fell by ₹62,538.64 crore to ₹13,84,804.91 crore, the highest among the top 10 companies.

Infosys faced an erosion of ₹30,488.12 crore from its valuation which stood at ₹5,85,936.45 crore. Shares of Infosys ended nearly 1 percent lower on Friday after the company’s FY25 revenue growth expectations fell short of market expectations.

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ICICI Bank’s market capitalization (mcap) fell by ₹26,423.74 crore to ₹7,49,023.89 crore and that of State Bank of India fell by ₹14,234.76 crore to ₹6,70,059.86 crore.

ITC’s valuation fell by ₹6,616.9 crore to ₹5,30,350.97 crore and Hindustan Unilever’s fell by ₹176.22 crore to ₹5,24,487.51 crore.

However, Bharti Airtel’s mcap zoomed ₹37,797.09 crore to ₹7,30,658.36 crore and HDFC Bank’s climbed ₹9,420.17 crore to ₹11,63,314.93 crore.

Reliance Industries added ₹4,397.82 crore, taking its valuation to ₹19,90,195.52 crore, and LIC’s mcap rose by ₹1,201.75 crore to ₹6,15,453.90 crore.

In the ranking of top 10 companies, Reliance Industries remained the most valued company, followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, State Bank of India, LIC, Infosys, ITC and Hindustan Unilever.

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