5 most valued Indian firms lose over ₹93,000cr in m-cap
What's the story
The cumulative market capitalization of five of the top 10 most valued firms in India has eroded by ₹93,357.52 crore. The decline is largely due to a weak trend in domestic equities. Among those worst hit is the IT giant Infosys. Despite the overall decline, Tata Consultancy Services (TCS) and State Bank of India (SBI) have witnessed a massive jump in their market capitalization.
Market growth
TCS and SBI witness market capitalization increase
TCS's valuation jumped by ₹68,463.11 crore to hit a total of ₹12,55,526.17 crore. Meanwhile, SBI's market capitalization jumped by ₹44,947.63 crore to hit ₹5,11,603.69 crore. Other companies that witnessed an increase in their market cap include Reliance Industries, HDFC Bank, ICICI Bank, Bharti Airtel, and ITC.
Additional gains
More firms experience market cap growth
Reliance's valuation increased by ₹32,239.78 crore to ₹16,77,728.89 crore. HDFC Bank's market cap increased by ₹27,491.56 crore to ₹11,71,918.45 crore while ICICI Bank witnessed a ₹16,794.14 crore increase in its valuation totaling it at ₹6,52,942.31 crore. Airtel's market cap increased by ₹12,586.72 crore, reaching ₹4,47,866.92 crore. ITC's valuation went up by ₹7,731.02 crore, totaling ₹4,46,898.73 crore.
Information
Infosys, Hindustan Unilever, and Bajaj Finance face market cap decline
Infosys's market capitalization declined by ₹7,799.72 crore to ₹5,86,548.17 crore. Hindustan Unilever also lost ₹5,252.35 crore in valuation bringing it down to ₹5,97,879.43 crore. Bajaj Finance wasn't spared either as its market cap fell by ₹1,102.68 crore to ₹4,21,673.25 crore.