M-cap of 8 out of 10 top firms plunges by Rs 1.23 lakh crore this week

The market capitalisation of eight out of 10 most-valued firms saw an erosion of Rs 1,23,670.47 crore last week. The drop came about in line with a bearish broader market trend. The BSE benchmark fell 654.54 points, or 1.26 per cent, last week.

However, only State Bank of India (SBI) and Reliance Industries (RIL) emerged as gainers in the list of most-valued companies. Meanwhile, Tata Consultancy Services (TCS) was the biggest laggard on the list as its market valuation slumped Rs 44,672.14 crore to Rs 11,52,770.11 crore. HDFC Bank's valuation plunged by Rs 23,964.99 crore to reach Rs 8,47,754.65 crore.

The market capitalisation (m-cap) of ICICI Bank sank Rs 16,146.38 crore to Rs 4,31,177.44 crore and that of Hindustan Unilever plunged Rs 14,273.56 crore to Rs 5,12,473.46 crore.

HDFC's valuation declined Rs 9,408.05 crore to reach Rs 4,92,908.61 crore and that of Infosys dropped Rs 7,735.21 crore to Rs 5,50,100.64 crore.

The market capitalisation of Bajaj Finance went lower by Rs 4,667.04 crore to Rs 3,31,365.79 crore and that of Kotak Mahindra Bank dipped Rs 2,803.1 crore to Rs 3,83,777.06 crore.

In contrast, RIL added Rs 24,914 crore to take its valuation to Rs 13,18,952.34 crore.

The valuation of SBI jumped Rs 5,488.63 crore to reach Rs 3,56,404.36 crore.

In the ranking of top 10 most-valued companies, RIL was leading the chart followed by TCS, HDFC Bank, Infosys, Hindustan Unilever Limited, HDFC, ICICI Bank, Kotak Mahindra Bank, SBI and Bajaj Finance.

(With inputs from PTI.)