TCS seized the biggest hit as its market valuation fell ₹99,270.07 crores to reach ₹10,95,355.32 crore, even as shares of TCS declined last week after the company’s June quarter income lagged to meet market intentions.
The combined market capitalisation of six of the 10 most valued firms underwent a combined deterioration of ₹1,68,260.37 crore from valuation last week, mainly crushed by IT major TCS on the back of a broad weak trend in the equity market.
The 30-share BSE benchmark Sensex dropped 721.06 points or 1.32 per cent last week. From the laggards, Tata Consultancy Services (TCS) seized the massive hit as its market valuation tumbled from ₹99,270.07 crores to reach ₹10,95,355.32 crore, even as shares of TCS dropped last week after the company’s June quarter revenue drop to meet market goals.
Besides, another IT major Infosys suffered a deterioration of ₹35,133.64 crores, taking its valuation to ₹6,01,900.14 crore. While HDFC Bank’s market valuation dropped by ₹18,172.43 crores to ₹7,57,659.72 crore, valuations for State Bank of India (SBI) decreased by ₹8,433.76 crores to ₹4,27,488.90 crore.
The market capitalisation of HDFC scooped by ₹4,091.62 crores to reach ₹4,02,121.99 crore and that of ICICI Bank reached lower by ₹3,158.85 crores to ₹5,22,498.11 crore. In difference, the valuation of Hindustan Unilever Ltd (HUL) jumped from ₹17,128.52 crore to ₹6,03,551.26 crore.
Reliance Industries added ₹6,801.72 crore, seizing its market valuation to ₹16,24,681.08 crore. ITC’s m-cap climbed ₹1,318.81 crores to ₹3,62,327.81 crore and that of Life Insurance Corporation of India (LIC) took off elevated by ₹316.25 crores to ₹4,48,157.71 crore.
Meanwhile, just last week, Hindustan Unilever arose as the largest gainer. While the BSE benchmark Sensex boosted 1,573.91 points or 2.97% last week and from the top-10 pack, Reliance Industries and Tata Consultancy Services (TCS) were the only laggers. The market capitalisation of TCS had decreased by ₹18,770.93 crores to ₹11,94,625.39 crore and the country’s largest software exporter TCS last week recorded a 5.2% rise in June quarter net profit to ₹9,478 crores. The results were announced post-market hours.
These are the ranking of top-10 firms, Reliance Industries went on to remain the most esteemed domestic company, pursued by TCS, HDFC Bank, HUL, Infosys, ICICI Bank, LIC, SBI, HDFC and ITC.
Follow and connect with us on Facebook, LinkedIn & Twitter
