Market cap of 7 of top-10 most valued firms erode by ₹1 lakh crore; SBI take biggest hit. Details here
₹1,09,947.86 crore last week. Of these, State Bank of India took the biggest hit, in-tandem with weak trend in equities. Apart from SBI, other companies like ICICI Bank, Hindustan Unilever, ITC, Bharti Airtel, Bajaj Finance, Reliance Industries were the laggards.
Moreover, Tata Consultancy Services (TCS), HDFC Bank and Infosys witnessed addition in their market valuation. Meanwhile, the BSE benchmark fell by 438.95 points or 0.66 per cent. The valuation of State Bank of India tumbled ₹38,197.34 crore to ₹5,11,603.38 crore.
Shares of State Bank of India on Friday fell by nearly 3 per cent after the company's first quarter earnings failed to cheer investors. The market capitalisation (mcap) of ICICI Bank eroded by ₹17,201.84 crore to ₹6,79,293.90 crore. ITC's valuation tanked ₹16,846.18 crore to ₹5,66,886.01 crore while that of Bajaj Finance fell by ₹14,366.34 crore to ₹4,32,932.18 crore.
Other companies like Reliance Industries saw mcap lower by ₹11,806 crore to ₹16,98,270.74 crore, Hindustan Unilever declined by ₹9,069.42 crore to ₹5,98,299.92 crore, Bharti Airtel's valuation dipped by ₹2,460.74 crore to ₹4,97,908.56 crore. Speaking of the gainers, the mcap of TCS jumped ₹31,815.45 crore to ₹12,59,555.25 crore. Infosys added ₹15,791.49 crore taking its valuation to ₹5,72,062.52 crore.
Read more on livemint.com
