Mcap of 9 of top 10 most valued firms erode by ₹2 lakh crore: Hindustan Unilever, Reliance Industries major laggards

Nine of the top-10 most valued firms together lost a whopping ₹2,09,952.26 crore from market valuation last week, in line with weak trends in equities, with Hindustan Unilever and Reliance Industries Limited taking the biggest hit.

Last week, the BSE benchmark tanked 1,822.46 points or 2.24 per cent.

“The dismal Q2 earnings so far have aggravated the investors’ woes while persistent FII selling continued to create havoc in the market,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

From the top-10 pack, HDFC Bank emerged as the only winner.

The market valuation of Hindustan Unilever eroded by ₹44,195.81 crore to ₹5,93,870.94 crore.

Reliance Industries’ valuation tumbled ₹41,994.54 crore to ₹17,96,726.60 crore.

State Bank of India’s market valuation plummeted by ₹35,117.72 crore to ₹6,96,655.84 crore, and that of Bharti Airtel tanked by ₹24,108.72 crore to ₹9,47,598.89 crore.

The market capitalisation (mcap) of Tata Consultancy Services (TCS) dropped by ₹23,137.67 crore to ₹14,68,183.73 crore.

The valuation of Life Insurance Corporation of India (LIC) diminished by ₹19,797.24 crore to ₹5,71,621.67 crore, and that of Infosys declined by ₹10,629.49 crore to ₹7,69,496.61 crore.

ITC’s mcap fell by ₹5,690.96 crore to ₹6,02,991.33 crore, and that of ICICI Bank went lower by ₹5,280.11 crore to ₹8,84,911.27 crore.

However, the mcap of HDFC Bank jumped ₹46,891.13 crore to ₹13,29,739.43 crore.

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