The combined market valuation of seven of India’s top 10 most valuable companies fell by ₹1,22,107.11 crore last week, with Tata Consultancy Services (TCS) and Reliance Industries taking the hardest hits. The decline aligns with the weak performance in the broader equity market, as per the PTI report.
The BSE Sensex dropped 307.09 points, or 0.37%, closing at 81,381.36 by the end of the week, as per the report.
TCS, India’s largest IT firm by market value, saw its market capitalization (mcap) fall by ₹35,638.16 crore to ₹15,01,723.41 crore. Reliance Industries, the country's largest firm by valuation, shed ₹21,351.71 crore, bringing its mcap to ₹18,55,366.53 crore
ITC also faced significant losses, with its valuation slipping by ₹18,761.4 crore to ₹6,10,933.66 crore. Hindustan Unilever Ltd (HUL) followed suit, losing ₹16,047.71 crore to settle at an mcap of ₹6,53,315.60 crore.
The market capitalization of Life Insurance Corporation (LIC) dropped by ₹13,946.62 crore, standing at ₹6,00,179.03 crore, while ICICI Bank saw its mcap decline by ₹11,363.35 crore to ₹8,61,696.24 crore. HDFC Bank, another major financial player, also witnessed a reduction in valuation by ₹4,998.16 crore, closing the week at ₹12,59,269.19 crore.
On the brighter side, Bharti Airtel added ₹26,330.84 crore to its market value, which now stands at ₹9,60,435.16 crore. Infosys also gained ₹6,913.33 crore, pushing its valuation to ₹8,03,440.41 crore, while State Bank of India (SBI) registered a smaller increase of ₹3,034.36 crore, bringing its mcap to ₹7,13,968.95 crore.
Despite the week’s losses, Reliance Industries maintained its position as the most valued firm in India, followed by TCS, HDFC Bank, Bharti Airtel, and ICICI Bank.
"Our findings challenge the perception that these external factors have severely impacted our economy. Indian equity markets have largely shrugged off recent geopolitical tensions, including the Russia-Ukraine war and ongoing Middle Eastern conflicts. This resilience is a testament to the underlying strength of the Indian economy," said Rohit Sarin, co-founder of Client Associates, as quoted by PTI.
(With Inputs from PTI)
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