Mcap of 7 of top 10 most valued companies falls by Rs 35,439 cr; SBI biggest laggard

The combined market valuation of seven of the top 10 most valued companies fell by Rs 35,439.36 crore last week during a curtailed holiday period, with State Bank of India taking the biggest hit, in line with a subdued trend in equities.Last week, the benchmark BSE rose 112.09 points or 0.13 percent.

Among the top 10, Reliance Industries, Tata Consultancy Services (TCS), ICICI Bank, SBI, Bajaj Finance, Larsen & Toubro and Life Insurance Corporation of India (LIC) faced valuation erosion, while HDFC Bank, Bharti Airtel and Infosys were the gainers.The market valuation of State Bank of India fell to Rs 8,92,046.88 crore from Rs 12,692.1 crore.

Reliance Industries’ valuation fell by Rs 8,254.81 crore to Rs 21,09,712.48 crore.

Bajaj Finance faced an erosion of Rs 5,102.43 crore to take its market valuation to Rs 6,22,124.01 crore.

The market capitalization (mcap) of Larsen & Toubro fell by Rs 4,002.94 crore to Rs 5,56,436.22 crore and that of ICICI Bank fell by Rs 2,571.39 crore to Rs 9,65,669.15 crore. LIC’s mcap fell by Rs 1,802.62 crore. to Rs 5,37,403.43 crore and that of TCS fell by Rs 1,013.07 crore to Rs 11,86,660.34 crore.

However, HDFC Bank’s valuation rose by Rs 10,126.81 crore to Rs 15,26,765.44 crore.

Infosys’ mcap rose Rs 6,626.62 crore to Rs 6,87,818.84 crore and Bharti Airtel’s rose Rs 5,359.98 crore to Rs 12,00,692.32 crore.

Reliance Industries remained the most valued company, followed by HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Larsen & Toubro and LIC.