ITC, HDFC Bank lead 7 of India Inc Top 10 in Rs 77,434.98-crore loss to market valuation

The combined market valuation of seven of the top-10 most valued firms fell by Rs 77,434.98 crore last week, with ITC and HDFC Bank taking the biggest hit, in line with a muted trend in equities.

Last week, the BSE benchmark fell by 524.06 points or 0.78 per cent. While Reliance Industries, HDFC Bank, Tata Consultancy Services (TCS), ICICI Bank, Hindustan Unilever, ITC and Bajaj Finance Limited were the main laggards in the top-10 pack, Infosys, State Bank of India and Bharti Airtel made gains in their market capitalisation (mcap).

The valuation of ITC fell by Rs 26,192.05 crore to Rs 5,83,732.19 crore. HDFC Bank’s mcap declined by Rs 22,747.89 crore to Rs 12,40,322.63 crore and that of Bajaj Finance plunged Rs 12,127.47 crore to Rs 4,47,298.52 crore.

The market valuation of Reliance Industries tumbled Rs 5,818.43 crore to Rs 17,10,076.74 crore and that of TCS went lower by Rs 5,214.15 crore to Rs 12,27,739.80 crore. Hindustan Unilever’s valuation eroded by Rs 4,417.23 crore to Rs 6,07,369.34 crore and that of ICICI Bank dipped by Rs 917.76 crore to Rs 6,96,495.74 crore.