Mcap of 6 top valued firms erodes by ₹3 trn; TCS, Infosys biggest laggards | Markets News

The aggregate market valuation of six of the 10 most valuable firms was eroded by more than Rs 3 trillion last week; IT giants Tata Consultancy Services (TCS) and Infosys have emerged as the biggest laggards amid the bearish trend in stocks.

The BSE index fell 953.64 points or 1.14 percent last week.

While TCS, Infosys, HDFC Bank, Reliance Industries, Life Insurance Corporation of India (LIC) and Bharti Airtel saw erosion in their valuations, State Bank of India, Bajaj Finance, Larsen & Toubro and ICICI Bank were the gainers.

While TCS’s market valuation decreased by 90,198.92 billion rupees to 9,74,043.43 billion rupees, Infosys’s valuation decreased by 70,780.23 billion rupees to 5,55,287.72 billion rupees.

HDFC Bank’s market capitalization fell by 54,627.71 billion rupees to 13,93,621.92 billion rupees and Reliance Industries’ market capitalization fell by 41,883 billion rupees to 19,21,475.79 billion rupees.

Life Insurance Corporation of India’s market capitalization (mcap) fell by Rs 23,971.74 crore to Rs 5,46,226.80 crore and Bharti Airtel’s market capitalization fell by Rs 19,244.61 crore to Rs 11,43,044.03 crore.

However, the valuation of State Bank of India (SBI) increased by Rs 1,22,213.38 billion to Rs 11,06,566.44 billion.

Bajaj Finance’s capital increased by 26,414.44 billion rupees to 6,37,244.64 billion rupees and Larsen & Toubro’s valuation increased by 14,483.9 billion rupees to 5,74,028.93 billion rupees.

ICICI Bank’s mcap increased by 5,719.95 billion rupees to 10,11,978.77 billion rupees.

Reliance Industries remained the most valuable firm, followed by HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, Tata Consultancy Services, Bajaj Finance, Larsen & Toubro, Infosys and Life Insurance Corporation of India.