M-Cap Of 6 Out Of Top 10 Firms Slips Last Week, LIC Emerges As Major Laggard

State Bank of India (SBI), Infosys, HDFC Bank, and ICICI Bank were the gainers in the week. The companies collectively added Rs 62,038.86 crore to their valuation

Mukesh Ambani-owned Reliance Industries saw its valuation diminish by Rs 642.62 crore to Rs 19,76,493.92 crore.

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The cumulative market valuation of six out of the top ten most valued companies decreased by Rs 71,414 crore last week. Amongst the firms, Life Insurance Corporation of India (LIC) stood as the biggest laggard in the week, followed by Tata Consultancy Services (TCS), ITC, Bharti Airtel, Hindustan Unilever, and Reliance Industries. 

On the other hand, State Bank of India (SBI), Infosys, HDFC Bank, and ICICI Bank were the gainers in the week. The companies collectively added Rs 62,038.86 crore to their valuation, reported PTI. Notably, the equity benchmarks gained last week. The BSE Sensex gained 1.16 per cent or 831.15 points.

The valuation of LIC eroded by Rs 26,217.12 crore to touch Rs 6,57,420.26 crore, TCS saw its m-cap decrease by Rs 18,762.61 crore to reach Rs 14,93,980.70 crore. At the same time, ITC saw its valuation slip by Rs 13,539.84 crore to Rs 5,05,092.18 crore, while Bharti Airtel’s market valuation fell Rs 703.60 crore to Rs 6,30,340.9 crore. 

Mukesh Ambani-owned Reliance Industries saw its valuation diminish by Rs 642.62 crore to Rs 19,76,493.92 crore. Earlier last week, the conglomerate became the first Indian firm to reach a market capitalisation of Rs 20 lakh crore. The firm’s stock reached a fresh 52-week high of Rs 2968.40 per share in the week.

Amongst the gainers, the State Bank of India (SBI) saw its valuation climb Rs 27,220.07 crore to hit Rs 6,73,585.09 crore, while Infosys clocked an addition of Rs 13,592.73 crore and its valuation touched Rs 7,06,573.08 crore. HDFC Bank also saw its valuation increase by Rs 12,684.58 crore to reach Rs 10,78,493.29 crore, while ICICI Bank registered a rise of Rs 8,541.48 crore as its valuation touched Rs 7,17,796.25 crore.

The top-10 list was dominated by Reliance Industries, followed by TCS, HDFC Bank, ICICI bank, Infosys, SBI, LIC, Bharti Airtel, Hindustan Unilever, and ITC.