Mcap Of Eight Out Of Top-10 Firms Erodes By Rs 2.07 Lakh Crore; TCS, Airtel Biggest Laggards

The combined market valuation of eight of the top 10 valued firms eroded by Rs 2.07 lakh crore (Rs 2,07,501.58 crore) last week, with Tata Consultancy Services Ltd. and Bharti Airtel Ltd. emerging as the worst hit.

Last week, the benchmark BSE Sensex dropped 932.42 points or 1.11%.

From the top 10 pack, only Bajaj Finance Ltd. and Hindustan Unilever Ltd. closed the week with gains in their valuation.

Among major losers, the market valuation of Tata Consultancy Services (TCS) tumbled Rs 56,279.35 crore to Rs 11,81,450.30 crore. Shares of TCS dropped nearly 3.50% on Friday after its June quarter earnings failed to enthuse investors.

Bharti Airtel's valuation eroded by Rs 54,483.62 crore to Rs 10,95,887.62 crore.

The market valuation of Reliance Industries Ltd. dropped by Rs 44,048.2 crore to Rs 20,22,901.67 crore and that of Infosys Ltd. by Rs 18,818.86 crore to Rs 6,62,564.94 crore.

The market capitalisation (mcap) of ICICI Bank Ltd. tanked Rs 14,556.84 crore to Rs 10,14,913.73 crore. The valuation of Life Insurance Corporation of India (LIC) diminished by Rs 11,954.25 crore to Rs 5,83,322.91 crore.

The mcap of HDFC Bank Ltd. declined by Rs 4,370.71 crore to Rs 15,20,969.01 crore and that of State Bank of India went lower by Rs 2,989.75 crore to Rs 7,21,555.53 crore.

However, the valuation of Hindustan Unilever jumped Rs 42,363.13 crore to Rs 5,92,120.49 crore. Shares of HUL on Friday surged nearly 5% after the company announced that Priya Nair will become its first woman CEO and MD.

The mcap of Bajaj Finance climbed Rs 5,033.57 crore to Rs 5,80,010.68 crore.

Reliance Industries was the most valued firm, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, LIC, Bajaj Finance and Hindustan Unilever in that order.