Reliance leads top 5 firms with significant market cap drop
What's the story
Over the past week, five of India's top 10 valued companies experienced a combined market capitalization loss of Rs. 2,23,660 crore. Reliance Industries and Life Insurance Corporation of India (LIC) were hit the hardest. Reliance Industries' market cap plunged by Rs. 81,763.35 crore to Rs. 19,19,595.15 crore. LIC's market value dropped by Rs. 63,629.48 crore to Rs. 5,84,967.41 crore. During this time, the BSE benchmark index fell by 1,475.96 points or 1.99%.
Information
Other companies with eroded market cap
State Bank of India's value declined by Rs. 50,111.7 crore to Rs. 6,53,281.59 crore. Hindustan Unilever and ICICI Bank also saw their market caps decrease by Rs. 21,792.46 crore and Rs. 6,363.11 crore, respectively.
M-cap increase
These firms witnessed an increase
Tata Consultancy Services (TCS) enjoyed a significant market valuation increase of Rs. 38,858.26 crore to Rs. 15,25,928.41 crore. Bharti Airtel's market cap rose by Rs. 11,976.74 crore to Rs. 6,89,425.18 crore, while ITC and Infosys experienced gains of Rs. 7,738.51 crore and Rs. 7,450.22 crore, respectively. Additionally, HDFC Bank's market cap grew by Rs. 4,443.9 crore to Rs. 11,03,151.78 crore.