Mcap of eight of top-10 most valued firms erodes Rs 1.65 lakh crore; TCS hit hard

The erosion was in line with bearish trends in equities.

The combined market valuation of eight of the top-10 most valued firms eroded Rs 1,65,784.9 crore last week, with Tata Consultancy Services (TCS) taking the biggest hit, in line with bearish trends in equities.

Last week, the BSE benchmark declined 628.15 points, or 0.82 per cent, while the Nifty went lower 133.35 points, or 0.58 per cent.

The market valuation of TCS tanked Rs 53,185.89 crore to Rs 13,69,717.48 crore.

Bharti Airtel's market capitalisation (mcap) dropped Rs 44,407.77 crore to Rs 9,34,223.77 crore.

The valuation of ICICI Bank tumbled Rs 18,235.45 crore to Rs 8,70,579.68 crore and that of Hindustan Unilever plunged Rs 17,962.62 crore to Rs 5,26,684.38 crore.

Infosys faced an erosion of Rs 17,086.61 crore to Rs 7,53,700.15 crore from its market valuation.

The mcap of ITC eroded Rs 11,949.42 crore to Rs 5,01,750.43 crore and that of HDFC Bank diminished Rs 2,555.53 crore to Rs 12,94,152.82 crore.

State Bank of India's valuation declined Rs 401.61 crore to Rs 6,43,955.96 crore.

However, the mcap of Reliance Industries jumped Rs 14,547.3 crore to Rs 16,61,369.42 crore.

Bajaj Finance added Rs 384.33 crore to Rs 5,20,466.75 crore in its mcap.

Reliance Industries remained the most valued firm followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, Hindustan Unilever, Bajaj Finance, and ITC.