Market cap of India's top 7 firms plunges ₹1.54L crore
What's the story
The combined market capitalization of seven out of India's top 10 most valuable companies fell by ₹1.54 lakh crore last week. The decline was led by Reliance Industries, which saw the biggest hit to its valuation. Other companies that saw a decline in their valuations include HDFC Bank, Bharti Airtel, ICICI Bank, Tata Consultancy Services (TCS), Bajaj Finance, and Hindustan Unilever.
Valuation drop
Companies that saw the biggest decline
Last week, Reliance Industries saw its market valuation plummet by ₹46,078.3 crore to ₹17,87,039.40 crore. HDFC Bank also witnessed a decline in its valuation by ₹33,333.06 crore to ₹11,46,641.84 crore. Bharti Airtel's market value fell by ₹25,408.96 crore to ₹11,14,886.53 crore, while TCS's market capitalization dipped by ₹22,920.58 crore to ₹8,15,480.75 crore during the same period last week.
Additional declines
Other companies that witnessed a dip
Hindustan Unilever's market capitalization fell by ₹13,169.46 crore to ₹5,04,210.54 crore last week. Bajaj Finance's valuation also witnessed a decline of ₹7,253.24 crore to ₹5,63,262.33 crore, while ICICI Bank's market value dipped by ₹6,311.41 crore to ₹9,00,589.91 crore.
Market gainers
These companies saw an increase in market cap
Despite the overall decline in valuations among top firms, some companies witnessed a rise in their market capitalization last week. State Bank of India (SBI) saw its valuation climb by ₹13,753.62 crore to ₹8,89,831.54 crore during the same period last week. Larsen & Toubro's market cap also jumped by ₹20,608.43 crore to ₹5,60,836.64 crore, while Life Insurance Corporation of India's (LIC) valuation went up by ₹6,040.37 crore to ₹5,20,484.06 crore.