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Top firms see valuation dip: HDFC Bank lead Rs 1.65 lakh crore Mcap loss; tech stocks rise

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NEW DELHI: Eight of the top-10 highest-valued firms experienced a collective decline of Rs 1,65,501.49 crore in market valuation last week, with HDFC Bank experiencing the most significant decrease, aligning with the downward trend in domestic equities. The BSE benchmark declined by 1,070.39 points or 1.30 per cent during this period.Whilst TCS and Infosys showed positive growth in market valuations, several firms including Reliance Industries, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Life Insurance Corporation of India (LIC), Bajaj Finance and Hindustan Unilever Ltd witnessed decreases, reported PTI.HDFC Bank’s valuation decreased by Rs 47,075.97 crore to Rs 14,68,777.88 crore, while ICICI Bank’s market capitalisation reduced by Rs 30,677.44 crore to Rs 10,10,375.63 crore.Reliance Industries saw a reduction of Rs 21,516.63 crore to Rs 19,31,963.46 crore, whilst State Bank of India’s value decreased by Rs 18,250.85 crore to Rs 7,07,186.89 crore.Hindustan Unilever Ltd’s market capitalisation reduced by Rs 16,388.4 crore to Rs 5,44,893.71 crore. Bharti Airtel’s value declined by Rs 15,481.22 crore to Rs 10,50,413.33 crore, and LIC decreased by Rs 13,693.62 crore to Rs 5,93,379.66 crore.Bajaj Finance experienced a reduction of Rs 2,417.36 crore to Rs 5,80,052.09 crore.Conversely, TCS’s market value increased by Rs 22,215.06 crore to Rs 12,47,190.95 crore, whilst Infosys’s market capitalisation rose by Rs 15,578.3 crore to Rs 6,65,318.03 crore.In the ranking of top-10 firms, Reliance Industries Ltd maintained its position as the most valuable company, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, LIC, Bajaj Finance and Hindustan Unilever Ltd.

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