MCAP of 6 of the top 10 most appreciated companies drops with RS 2.22 Lakh CR; Reliance are left behind for the biggest

The combined market rating of 6 of the top 10 most appreciated companies that were taken last week with RS 2.22 Lakh Crore, with Reliance Industries who take the biggest hit, in line with a bearish trend in shares.

Last week the BSE benchmark meter fell by 294.64 points or 0.36 percent.

“Markets ended lower for the fourth consecutive week, because caution prevailed in the midst of mixed signals. The direction of the market was initially influenced by winstalling announcements, whereby the banking sector showed strength as a result of positive results from HDFC Bank and Icici Bank. A dip in shares such as Reliance, however, covered the recovery.

“Moreover, foreign fund and uncertainty about trade agreements remained high prior to the deadline of 1 August volatility,” said Ajit Mishra – SVP, Research, Religare Broking Ltd.

From the Top-10 Pack, Reliance Industries, Tata Consultancy Services (TCS), Infosys, Bajaj Finance, Hindustan Unilever and Life Insurance Corporation of India (LIC), a combined erosion of RS 2.2.193.17 Crore of their market appreciation suffered.

HDFC Bank, Bharti Airtel, Icici Bank and State Bank of India won in their appreciation. The valuation of Reliance Industries fell 1,14,687.7 Crore to RS 18.83,855.52 Crore, the most among the top 10 companies. Infosys was confronted with an erosion of RS 29,474.56 Crore to RS 6.29.621.56 Crore of its market capitalization (MCAP).

The valuation of Lic Tanked RS 23.086.24 CRORE to RS 5.60.742.67 CRORE and that of TCS fell with RS 20.080.39 Crore to RS 11.34.05.26 CRORE.

The MCAP from Bajaj Finance fell with RS 17,524.3 Crore to RS 5.67.768.53 Crore and that of Hindustan Unilever fell with RS 17.39.98 Crore to RS 5.67.49.79 Crore.

The market rating of HDFC Bank, however, jumped on RS 37.161.53 Crore to RS 15.38.078.95 Crore.

Icici Bank added RS 35,814.41 Crore and took its appreciation to RS 10.53,823.14 Crore.

The MCAP from Bharti Airtel climbed RS 20,841.2 Crore to RS 11.04.839.93 Crore and that of State Bank of India went up with RS 9,685.34 Crore to RS 7.44.49.31 CRORE.

Reliance Industries remained the most appreciated domestic company followed by HDFC Bank, TCS, Bharti Airtel, Icici Bank, State Bank of India, Infosys, Bajaj Finance, Hindustan Unilever and LIC.