The combined market valuation of eight of India’s top-10 most valued companies eroded by ₹2.07 lakh crore last week.
The downturn was a result of a bearish trend in the equity market, with the BSE benchmark Sensex dropping 932.42 points or 1.11%.
The week’s biggest losers
Tata Consultancy Services (TCS) and Bharti Airtel were the worst-hit among the top 10 firms, mirroring the market downturn.
TCS dropped nearly 3.50% on Friday after its June quarter earnings failed to enthuse investors. Here are the firms who were the most affected due to the trend:
- HDFC Bank: The biggest Indian bank by market cap lost ₹4,370.71 crore and stood at ₹15,20,969.01 crore.
- State Bank of India: Its market cap went lower by ₹2,989.75 crore to ₹7,21,555.53 crore.
Winners amidst the dip
Despite the market downturn, Bajaj Finance and Hindustan Unilever managed to ditch the trend and register gains in their market valuation.
Shares of Hindustan Unilever Ltd (HUL) on Friday gained nearly 5% after the company announced that Priya Nair will become its first woman Chief Executive Officer (CEO) and Managing Director (MD).
Here’s the market valuation of the firms:
- Hindustan Unilever Ltd: Its market valuation jumped ₹42,363.13 crore to ₹5,92,120.49 crore.
- Bajaj Finance: Its market cap climbed ₹5,033.57 crore to ₹5,80,010.68 crore.
Top-10 most valued companies in India by market cap
Reliance Industries retained the title of the most valued firm of India, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, LIC, Bajaj Finance and Hindustan Unilever Ltd.
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