Market cap of seven out of ten companies decreases by Rs 80,200 crore; TCS is the largest behind

23 Aug 2023 , 02:05 PM

Tata Consultancy Services and HDFC Bank emerged as the largest laggards, with the total market valuation of seven of the top 10 valued corporations declining by Rs 80,200.24 crore last week amid a negative trend in stocks.

In a week that was cut short by holidays, the BSE benchmark dropped by 373.99 points, or 0.57%.

Reliance Industries, Hindustan Unilever, and Infosys were among the top 10 companies to have increases in valuation, while Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank, ITC, State Bank of India, Bharti Airtel, and Bajaj Finance saw decreases.

Tata Consultancy Services’ (TCS) market value plummeted by Rs 29,894.45 crore to Rs 12,32,240.44 crore.

The valuation of HDFC Bank dropped by Rs 19,664.06 crore to Rs 12,02,728.20 crore.

Bajaj Finance’s market value decreased by Rs 12,233.5 crore to Rs 4,15,763.47 crore, and ITC’s market value decreased by Rs 8,338.45 crore to Rs 5,50,821.26 crore.

The market capitalization (mcap) of State Bank of India decreased by Rs 1,026.33 crore to Rs 5,11,424.89 crore, and that of Bharti Airtel decreased by Rs 8,081.38 crore to Rs 4,78,730.70 crore.

ICICI Bank’s market capitalization decreased by Rs 962.07 crore to Rs 6,65,550.83 crore.

Hindustan Unilever, however, increased by Rs 12,347.1 crore, bringing its market value to Rs 6,00,250.08 crore.

The market capitalization of Infosys increased by Rs 6,972.87 to Rs 5,76,379.26 and that of Reliance Industries increased by Rs 5,886.09 to Rs 17,29,764.68.

Reliance Industries continued to be the most valuable company in the top 10 list, followed by TCS, HDFC Bank, ICICI Bank, Hindustan Unilever, Infosys, ITC, State Bank of India, Bharti Airtel, and Bajaj Finance.

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