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    Home / News / Business News / India's top 8 companies lose ₹1.28L crore in market cap
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    India's top 8 companies lose ₹1.28L crore in market cap
    TCS experienced the largest decrease

    India's top 8 companies lose ₹1.28L crore in market cap

    By Dwaipayan Roy
    Aug 04, 2024
    12:16 pm

    What's the story

    Eight of India's top 10 most valued firms, witnessed a significant drop in their market capitalization (mcap) last week, resulting in a combined loss of ₹1.28 lakh crore.

    This downturn was primarily led by IT behemoths Tata Consultancy Services (TCS) and Infosys, amid a weak trend in equities.

    TCS experienced the largest decrease among these firms, with its valuation falling by ₹37,971.83 crore to ₹15.5 lakh crore.

    Market downturn

    Infosys, ITC, and SBI down

    Infosys trailed TCS in the market downturn, with its mcap plunging by ₹23,811.88 crore to ₹7.56 lakh crore.

    Other companies that faced a decrease in their market valuations include ITC and State Bank of India (SBI).

    ITC's mcap dipped by ₹16,619.51 crore to ₹6.11 lakh crore, while SBI's valuation fell by ₹13,431.54 crore to ₹7.57 lakh crore last week amid weak equities trend.

    Valuation dip

    Reliance Industries, Bharti Airtel, and ICICI Bank witness valuation dips

    Reliance Industries Limited (RIL) also saw a decrease in its valuation by ₹13,125.49 crore to ₹20.29 lakh crore last week.

    Bharti Airtel's market valuation dipped by ₹11,821.5 crore to ₹8.50 lakh crore, and ICICI Bank's mcap reduced by ₹7,843.75 crore to ₹8.42 lakh crore during the same period.

    Hindustan Unilever also experienced a decrease in its valuation by ₹4,288 crore to ₹6.33 lakh crore last week.

    Mixed results

    HDFC Bank and LIC see growth

    However, not all top firms faced a decline during this period. HDFC Bank's mcap rose by ₹32,759.37 crore to ₹12.64 lakh crore, and the valuation of Life Insurance Corporation of India (LIC) increased by ₹1,075.25 crore to ₹7.48 lakh crore last week.

    Market overview

    BSE benchmark and top firms' rankings

    The BSE benchmark fell by 350.77 points or 0.43% last week, reflecting the overall market downturn.

    Despite this slump, Reliance Industries managed to retain its position as the most valued firm in India.

    The list of top companies following RIL includes TCS, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India (SBI), Infosys, LIC, Hindustan Unilever and ITC in that order.

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