Top-10 Most Valued Indian Firms Witness ₹1.25 Lakh Crore Market Capitalization Erosion
Market Valuation of Top-10 Firms Erodes by ₹1.25 Lakh Crore
The Indian equity market experienced a bearish trend last week, with the combined market valuation of seven of the top-10 most-valued firms eroding by ₹1.25 lakh crore. The BSE benchmark Sensex declined 532.4 points, or 0.71 per cent, while the NSE Nifty dipped 181.05 points, or 0.76 per cent.
Despite supportive developments such as cooling crude oil prices and a recovery in the rupee against the US dollar, persistent FII selling remained the key drag on market sentiment. Concerns regarding the pace of monsoon advancement also weighed on investor confidence.
The top-10 most-valued firms saw significant erosion in their valuation. Reliance Industries, which remained the most-valued domestic firm, took the biggest hit, with its market valuation dropping by ₹39,718 crore to ₹17,47,321.40 crore. Other firms that faced erosion include Bharti Airtel, Tata Consultancy Services (TCS), Bajaj Finance, Larsen & Toubro, Life Insurance Corporation of India (LIC), and Hindustan Unilever.
| Firm | Erosion in Market Valuation (₹ crore) | New Market Valuation (₹ crore) |
|---|---|---|
| Reliance Industries | 39,718 | 17,47,321.40 |
| TCS | 20,134.66 | 7,95,346.09 |
| Bharti Airtel | 18,736.04 | 10,96,150.49 |
| Larsen & Toubro | 16,880.2 | 5,43,956.44 |
| LIC | 14,610.74 | 5,05,873.32 |
| Bajaj Finance | 9,681.36 | 5,53,580.97 |
| Hindustan Unilever | 5,909.23 | 4,98,301.31 |
On the other hand, HDFC Bank, ICICI Bank, and State Bank of India were the gainers. The market capitalisation of State Bank of India jumped by ₹12,692.09 crore to ₹9,02,523.63 crore. ICICI Bank's valuation increased by ₹4,484.86 crore to ₹9,05,074.77 crore, while HDFC Bank's valuation climbed by ₹4,101.47 crore to ₹11,50,743.31 crore.
The ranking of the top-10 most-valued firms remains unchanged, with Reliance Industries at the top, followed by HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, TCS, Bajaj Finance, Larsen & Toubro, LIC, and Hindustan Unilever.
Investor Takeaway
Investors should be cautious of the bearish trend in equities and potential impact on market valuation.
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