Mcap of 5 of top 10 companies reached Rs 1.97 trillion; TCS, Infosys Biggest Losers
In the ranking of the most valued companies, Reliance Industries retained the number one title, followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, State Bank of India, Infosys, LIC, ITC and Hindustan Unilever | File image | (Photo: Wikipedia)
The combined market valuation of five of the 10 most valued companies fell by Rs 1,97,958.56 crore last week, with IT majors Tata Consultancy Services (TCS) and Infosys taking the biggest hit amid volatile trends in equities.
Last week, the benchmark BSE rose 188.51 points or 0.25 percent.
TCS’s market valuation fell by Rs 1,10,134.58 crore to Rs 14,15,793.83 crore, the highest among the top 10 companies.
Infosys’ valuation fell Rs 52,291.05 crore to Rs 6,26,280.51 crore.
IT stocks fell on Friday after tech giant Accenture cut its revenue forecast for the sector for the 2023-2024 financial year.
The market valuation of Hindustan Unilever fell by Rs 16,834.82 crore to Rs 5,30,126.53 crore and that of Life Insurance Corporation of India (LIC) fell by Rs 11,701.24 crore to Rs 5,73,266.17 crore.
HDFC Bank’s market capitalization (mcap) fell Rs 6,996.87 crore to Rs 10,96,154.91 crore.
However, Reliance Industries Limited’s valuation rose by Rs 49,152.89 crore to Rs 19,68,748.04 crore.
State Bank of India added Rs 12,851.44 crore, taking its mcap to Rs 6,66,133.03 crore.
ITC’s mcap rose by Rs 11,108.51 crore to Rs 5,34,768.59 crore and that of Bharti Airtel rose by Rs 9,430.48 crore to Rs 6,98,855.66 crore.
ICICI Bank’s mcap rose Rs 8,191.79 crore to Rs 7,65,409.98 crore.
In the ranking of the most valued companies, Reliance Industries retained the number one title, followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, State Bank of India, Infosys, LIC, ITC and Hindustan Unilever.
(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)
First print: March 24, 2024 | 12:15 pm IST