Mcap of 6 of top 10 valued companies erodes by Rs 3 lakh cr; TCS, the biggest laggards of Infosys

The combined market valuation of six of the top 10 most valued companies eroded by over Rs 3 lakh crore last week, with IT majors Tata Consultancy Services (TCS) and Infosys emerging as the biggest laggards amid a bearish trend in equities.The benchmark BSE has fallen 953.64 points or 1.14 percent in the past week.

TCS, Infosys, HDFC Bank, Reliance Industries, Life Insurance Corporation of India (LIC) and Bharti Airtel faced valuation erosion, while State Bank of India, Bajaj Finance, Larsen & Toubro and ICICI Bank were the gainers.TCS’s market valuation fell by Rs 90,198.92 crore to Rs 9,74,043.43 crore, while Infosys’s valuation fell by Rs 70,780.23 crore to Rs 5,55,287.72 crore.

HDFC Bank’s market valuation fell by Rs 54,627.71 crore to Rs 13,93,621.92 crore, and that of Reliance Industries fell by Rs 41,883 crore to Rs 19,21,475.79 crore.

The market capitalization (mcap) of Life Insurance Corporation of India fell by Rs 23,971.74 crore to Rs 5,46,226.80 crore, and that of Bharti Airtel fell by Rs 19,244.61 crore to Rs 11,43,044.03 crore.

However, the valuation of State Bank of India (SBI) rose by Rs 1,22,213.38 crore to Rs 11,06,566.44 crore. Bajaj Finance’s mcap rose by Rs 26,414.44 crore to Rs 6,37,244.64 crore, and Larsen & Toubro’s valuation increased by Rs. 14,483.9 crore to Rs 5,74,028.93 crore.

ICICI Bank’s mcap rose by Rs 5,719.95 crore to Rs 10,11,978.77 crore.

Reliance Industries remained the most valued company, followed by HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, Tata Consultancy Services, Bajaj Finance, Larsen & Toubro, Infosys and Life Insurance Corporation of India.