Finance
Five of the ten most valuable companies saw a decline in market worth of Rs 1,67,936.21 crore last week, with HDFC Bank being the largest underperformer.
The 30-share BSE benchmark dropped by 1,144.8 points, or 1.57%, last week. On January 20, regular trading sessions were held on the NSE and BSE.
In the top 10, companies that saw valuation erosion were ICICI Bank, Infosys, Bharti Airtel, Life Insurance Corporation of India (LIC), and ITC. Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, Hindustan Unilever, and State Bank of India saw valuation erosion.
HDFC Bank’s market value dropped to Rs 11,22,662.76 crore from Rs 1,22,163.07 crore.
Friday saw a sharp decline in HDFC Bank shares—more than 12 percent—as investors withdrew from the counter following the company’s underwhelming results for the December quarter. HDFC Bank’s stock recovered on Saturday, increasing by 0.54%.
The valuation of Reliance Industries dropped to Rs 18,35,665.82 crore from Rs 18,199.35 crore.
The market value of TCS dropped by Rs 7,720.6 crore to Rs 14,12,613.37 crore, while that of Hindustan Unilever dropped by Rs 17,845.15 crore to Rs 5,80,184.57 crore.
State Bank of India’s market capitalization (mcap) decreased by Rs 2,008.04 crore to Rs 5,63,589.24 crore.
But LIC’s market capitalization increased by Rs 67,456.1 crore to Rs 5,92,019.78 crore.
By market valuation on Wednesday, Life Insurance Corporation of India (LIC) overtook State Bank of India (SBI) as the most valuable PSU company in the nation.
With the addition of Rs 26,380.94 crore, Bharti Airtel’s market valuation increased to Rs 6,31,679.96 crore.
The market capitalization of ICICI Bank surged by Rs 3,163.72 crore to Rs 7,07,373.79 crore, while that of Infosys increased by Rs 15,170.75 crore to Rs 6,84,305.90 crore.
ITC’s valuation increased to Rs 5,84,170.38 crore from Rs 2,058.48 crore.
The top ten most valuable companies list was dominated by Reliance Industries, which was followed by TCS, HDFC Bank, ICICI Bank, Infosys, Bharti Airtel, LIC, ITC, Hindustan Unilever, and State Bank of India.
Source:FE
