Mumbai; The combined market capitalisation(m-cap) of 8 of India’s ten most valuable companies lost Rs 1.60 lakh crore last week. The BSE benchmark index fell by 1,047.52 points, or 1.30%, during the week. Reliance Industries, HDFC Bank, Tata Consultancy Services (TCS), Bharti Airtel, ICICI Bank, State Bank of India, Bajaj Finance, and ITC all saw declines in their market capitalisation. In contrast, Infosys and Hindustan Unilever registered gains.
Market capitalisation or ‘market cap’ is a measure used to evaluate the total value of a publicly traded company. It is calculated by multiplying the current share price of the company by the total number of outstanding shares. In essence, market capitalisation represents the theoretical value of a company.
Also Read: Retail inflation in India hit six-year low in April
Reliance Industries’ valuation plunged by Rs 59,799.34 crore to Rs 18.64 lakh crore. ICICI Bank’s mcap fell Rs 30,185.36 crore to Rs 9.90 lakh crore, while HDFC Bank’s dropped Rs 27,062.52 crore to Rs 14.46 lakh crore. State Bank of India’s valuation sank by Rs 18,429.34 crore to Rs 6.96 lakh crore.
Bajaj Finance lost Rs 13,798.85 crore in value, bringing its mcap to Rs 5.37 lakh crore. ITC’s valuation slipped Rs 8,321.89 crore to Rs 5.30 lakh crore, and Bharti Airtel declined by Rs 2,138.29 crore to Rs 10.54 lakh crore. TCS saw a smaller dip of Rs 578.89 crore, with its mcap at Rs 12.45 lakh crore.
On the other hand, Hindustan Unilever’s valuation rose by Rs 2,537.56 crore to Rs 5.48 lakh crore, and Infosys added Rs 415.33 crore, reaching Rs 6.26 lakh crore in market value.
In terms of overall rankings, Reliance Industries retained its top spot, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Hindustan Unilever, Bajaj Finance, and ITC.
Post Your Comments