Mcap of 8 of top-10 most valued firms erodes by Rs 79,129 cr; Bajaj Finance, ICICI Bank hit hard

Eight of India’s top-10 most valued firms lost a combined Rs 79,129.21 crore last week amid a bearish market, with Bajaj Finance and ICICI Bank hit hardest, while Reliance Industries and Larsen & Toubro gained

New Delhi: The combined market valuation of eight of the top-10 most valued domestic firms eroded by Rs 79,129.21 crore last week, with Bajaj Finance and ICICI Bank taking the biggest hit, amid a largely bearish trend in equities.

Last week, the BSE benchmark index declined by 444.71 points or 0.51 per cent.

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From the top-10 pack, Reliance Industries and Larsen & Toubro were the only gainers, while HDFC Bank, Bharti Airtel, Tata Consultancy Services (TCS), ICICI Bank, State Bank of India, Infosys, Bajaj Finance and Life Insurance Corporation of India (LIC) faced erosion from their valuation.

The market capitalisation (mcap) of Bajaj Finance dropped by Rs 19,289.7 crore to Rs 6,33,106.69 crore.

ICICI Bank’s valuation tumbled Rs 18,516.31 crore to Rs 9,76,668.15 crore.

The mcap of Bharti Airtel tanked Rs 13,884.63 crore to Rs 11,87,948.11 crore and that of State Bank of India diminished by Rs 7,846.02 crore to Rs 8,88,816.17 crore.

Infosys lost Rs 7,145.95 crore from its market valuation which stood at Rs 6,64,220.58 crore.

The mcap of TCS declined by Rs 6,783.92 crore to Rs 11,65,078.45 crore and that of HDFC Bank dipped by Rs 4,460.93 crore to Rs 15,38,558.71 crore.

The valuation of LIC eroded by Rs 1,201.75 crore to Rs 5,48,820.05 crore. However, the mcap of Reliance Industries jumped Rs 20,434.03 crore to Rs 21,05,652.74 crore.

Larsen & Toubro added Rs 4,910.82 crore taking its valuation to Rs 5,60,370.38 crore.

Reliance Industries remained the most valued firm, followed by HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Larsen & Toubro and LIC.