Infosys, TCS among major laggards as m-cap of 6 leading firms shrinks by Rs 1.71 lakh crore
Infosys and Tata Consultancy Services taking the biggest hit. Last week, the BSE benchmark lost 759.58 points or 0.98 per cent, and the Nifty declined by 228.3 points or 0.97 per cent.
From the top 10 pack, Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank, Infosys, Hindustan Unilever and ITC faced a combined erosion of Rs 1,71,680.42 crore in their market valuation while Reliance Industries, Bharti Airtel, State Bank of India and Life Insurance Corporation of India (LIC) were the gainers.
The valuation of Infosys tanked by Rs 62,948.4 crore to Rs 7,53,678.38 crore, the most among the top 10 firms. Infosys shares tanked nearly 6 per cent on Friday amid profit-taking after the announcement of the third quarter earnings.
The market capitalisation (mcap) of TCS tumbled by Rs 50,598.95 crore to Rs 14,92,714.37 crore.
Hindustan Unilever's valuation dropped by Rs 20,605.92 crore to Rs 5,53,152.52 crore and that of ICICI Bank diminished by Rs 16,005.84 crore to Rs 8,65,495.17 crore.
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