Ten Most-Valued Firms Lose Rs 24,605 Crore In Market Cap As HDFC Bank, Bharti Airtel Weigh

The 10 most-valued firms in India collectively lost Rs 24,604.5 crore in market valuation on Thursday, led by HDFC Bank Ltd., Bharti Airtel Ltd. and Hindustan Unilever Ltd. Infosys Ltd., Tata Consultancy Services Ltd. and State Bank of India were among the gainers for the day.

HDFC Bank lost 20,673.6 crore in market capitalisation, taking it to approximately Rs 12.8 lakh crore, while Airtel lost Rs 18.218.1 crore that took its market valuation down to Rs 9.68 lakh crore.

HUL lost Rs 9,950.5 crore in market cap to reach Rs 6.43 lakh crore. ITC Ltd. and ICICI Bank Ltd. were the other losers for the day.

The valuation of Infosys rose Rs 22,608.4 crore to Rs 8.19 lakh crore. TCS added Rs 5,897.5 crore to its market cap to reach Rs 14.9 lakh crore.

TCS' net profit fell in the second quarter of the current financial year, missing analysts' estimates, even as its revenue rose during the period. Profit of the IT major was down 1.1% at Rs 11,909 crore in the September quarter. Analysts polled by Bloomberg had a consensus estimate of Rs 12,543 crore.

SBI, Reliance Industries Ltd. and HCL Technologies Ltd. also reported gains in market valuation.

India's benchmark equity indices extended losses for the third straight day to record their lowest closing in nearly two months on Thursday as some of the quarterly results of key companies failed to impress the market.

The NSE Nifty 50 closed 0.89% or 221.45 points down at 24,749.8 and the BSE Sensex ended 0.6% or 494.75 points lower at 81,006.61. During the day, the Nifty fell as much as 0.97%, and the Sensex plunged 0.7%.

RIL remained the most-valued firm, followed by TCS, HDFC Bank, Airtel, ICICI Bank, Infosys, SBI, HUL, ITC and HCLTech.

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