7 out of 10 companies see drop by ₹1.22 lakh crore in market cap; Airtel, Infosys gained

The combined market valuation of seven of India's top 10 most valuable companies took a significant plunge last week, mirroring the broader market downturn.

Livemint, Written By Shivangini
Updated13 Oct 2024, 12:36 PM IST
7 out of 10 companies see drop by  <span class='webrupee'>₹</span>1.22 lakh crore in market cap; Airtel, Infosys gained
7 out of 10 companies see drop by ₹1.22 lakh crore in market cap; Airtel, Infosys gained

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.

Also Read | Reliance Bonus issue 2024: RIL may announce bonus share record date tomorrow

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.

Also Read | Best mutual funds: Top 5 schemes in each of the most popular equity categories

Airtel and Infosys buck the trend

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.

Also Read | Companies News Today Live Updates on October 13, 2024: 7 out of 10 companies see drop by ₹1.22 lakh crore in market cap; Airtel, Infosys gained

"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)

Catch all the Business News , Corporate news , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

MoreLess
First Published:13 Oct 2024, 12:36 PM IST
Business NewsCompaniesNews7 out of 10 companies see drop by ₹1.22 lakh crore in market cap; Airtel, Infosys gained

Get Instant Loan up to ₹10 Lakh!

  • Employment Type

    Most Active Stocks

    Tata Steel share price

    149.70
    07:18 PM | 1 NOV 2024
    1.05 (0.71%)

    Indian Oil Corporation share price

    145.00
    07:19 PM | 1 NOV 2024
    2.3 (1.61%)

    Tata Power share price

    445.20
    07:19 PM | 1 NOV 2024
    5.15 (1.17%)

    Bandhan Bank share price

    183.65
    07:10 PM | 1 NOV 2024
    1.4 (0.77%)
    More Active Stocks

    Market Snapshot

    • Top Gainers
    • Top Losers
    • 52 Week High

    Jubilant Pharmova share price

    1,273.00
    06:59 PM | 1 NOV 2024
    60.65 (5%)

    UTI Asset Management Company share price

    1,369.00
    06:59 PM | 1 NOV 2024
    32.3 (2.42%)

    Fortis Healthcare share price

    632.70
    06:59 PM | 1 NOV 2024
    6.6 (1.05%)

    Suven Pharmaceuticals share price

    1,328.65
    07:18 PM | 1 NOV 2024
    13.15 (1%)
    More from 52 Week High

    Rainbow Childrens Medicare share price

    1,545.00
    06:59 PM | 1 NOV 2024
    -67.25 (-4.17%)

    ICICI Securities share price

    833.45
    06:59 PM | 1 NOV 2024
    -32.85 (-3.79%)

    Vijaya Diagnostic Centre share price

    966.70
    06:59 PM | 1 NOV 2024
    -30.35 (-3.04%)

    Narayana Hrudayalaya share price

    1,235.60
    06:59 PM | 1 NOV 2024
    -36.75 (-2.89%)
    More from Top Losers

    Brigade Enterprises share price

    1,244.80
    07:19 PM | 1 NOV 2024
    71.75 (6.12%)

    PCBL share price

    432.15
    07:17 PM | 1 NOV 2024
    21.35 (5.2%)

    Piramal Pharma share price

    281.85
    07:17 PM | 1 NOV 2024
    13.45 (5.01%)

    Jubilant Pharmova share price

    1,273.00
    06:59 PM | 1 NOV 2024
    60.65 (5%)
    More from Top Gainers

    Recommended For You

      More Recommendations

      Gold Prices

      • 24K
      • 22K
      Bangalore
      81,355.00170.00
      Chennai
      81,361.00170.00
      Delhi
      81,513.00170.00
      Kolkata
      81,365.00170.00

      Fuel Price

      • Petrol
      • Diesel
      Bangalore
      102.98/L0.00
      Chennai
      100.80/L0.00
      Kolkata
      104.95/L0.00
      New Delhi
      94.77/L0.00

      Popular in Companies

        HomeMarketsloanPremiumMint Shorts