A major correction was witnessed in the combined market valuation of four of the ten most valued companies on stock exchanges – resulting in a decline of more than ₹1 lakh crore. IT giants TCS and Infosys emerged as top laggards ahead of their Q4 results, while Reliance Industries and Bajaj Finance recorded significant downside in their valuation too.
Overall, the market valuation of the top 10 most valued companies dived by a whopping ₹1,05,848.14 crore last week, as per a PTI report.
RIL, TCS, Infosys, and Bajaj Finance witnessed steep correction, on the other hand, stocks of HDFC Bank, ICICI Bank, HUL, SBI, HDFC, and Bharti Airtel were on the gaining side with a combined addition of ₹51,628.12 crore.
TCS who is set to announce its Q4 result on Monday, recorded a decline of ₹40,640.76 crore in market valuation to ₹13,49,037.36 crore. While Infosys’ market cap tumbled by ₹36,703.8 crore and stood at ₹7,63,565.13 crore. Infosys will announce its Q4 result on April 13.
RIL which takes the top spot in the most valued companies on exchanges, saw its market valuation dive by ₹25,503.68 crore to reach ₹17,70,205.42 crore. Whereas, NBFC-giant Bajaj Finance’s market cap dropped by ₹2,999.9 crore to ₹4,45,810.84 crore.
On the contrary, FMCG-major Hindustan Unilever (HUL) gained a market cap of ₹24,048.06 crore taking the total to ₹5,12,857.03 crore, while ICICI Bank’s valuation jumped by ₹12,403.56 crore to ₹5,24,180.57 crore.
Further, the largest lender, SBI garnered a rise of ₹7,050.44 crore in market cap to ₹4,60,599.20 crore, while HDFC Bank added ₹4,880.07 crore taking its valuation to ₹8,40,204.91 crore.
Telecom giant Bharti Airtel’s market valuation climbed by ₹1,949.67 crore to ₹4,18,574.86 crore, and that of HDFC’s market cap rose by ₹1,296.32 crore to ₹4,45,659.60 crore.
On BSE, in terms of ranking, RIL takes the lead, while TCS and HDFC Bank hold the second and third spots of the most valued companies. Infosys ranks 4th, followed by ICICI Bank, HUL, SBI, Bajaj Finance, HDFC, and Bharti Airtel.
Markets benchmark ended on a positive note after RBI’s monetary policy outcome. BSE Sensex on Friday settled at 59,447.18 up by 412.23 points or 0.70%. NSE Nifty 50 surged by 144.80 points or 0.82% and closed at 17,784.35.
Download
the App to get 14 days of unlimited access to Mint Premium absolutely free!
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsAzi is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
