Mcap of seven of top-10 most valued firms erode by Rs 1 lakh crore; State Bank biggest laggard
Mcap of seven of top-10 most valued firms erode by Rs 1 lakh crore; State Bank biggest laggard
Last week, seven out of the top-10 most valued firms in India saw a decline in their combined market valuation, with a total erosion of Rs 1,09,947.86 crore. The weak trend in the equity market was a contributing factor to this decline. During the same period, the BSE benchmark index fell by 438.95 points or 0.66 per cent.
Among the top-10 most valued companies, Reliance Industries, ICICI Bank, Hindustan Unilever, ITC, State Bank of India, Bharti Airtel, and Bajaj Finance experienced a decrease in their market valuation during the mentioned period. On the other hand, Tata Consultancy Services (TCS), HDFC Bank, and Infosys witnessed an addition in their market valuation, despite the overall negative trend in the market.
Market valuations of companies can be influenced by a variety of factors, including their financial performance, industry outlook, investor sentiment, and broader market conditions. The changes in market capitalization for these companies highlight the dynamic nature of the stock market and the continuous shifts in investor perceptions and preferences. Investors and market participants keep a close eye on these trends to make well-informed investment decisions and respond to market fluctuations effectively.
These fluctuations in market valuations are common in the stock market, and they can be influenced by various factors such as economic conditions, company-specific news, investor sentiments, and global market trends. Investors and analysts closely monitor such developments to make informed decisions about their investments.
During the mentioned period, the market valuation of State Bank of India (SBI) experienced a significant decline, tumbling by Rs 38,197.34 crore, resulting in its market capitalization dropping to Rs 5,11,603.38 crore. This decline in SBI’s valuation came as a reaction to its first-quarter earnings, which failed to impress investors. As a result, on Friday, the shares of State Bank of India fell by nearly 3%.
Similarly, ICICI Bank’s market capitalization eroded by Rs 17,201.84 crore, bringing it down to Rs 6,79,293.90 crore. ITC’s valuation also faced a downturn, tanking by Rs 16,846.18 crore, and its market capitalization stood at Rs 5,66,886.01 crore. Additionally, the market valuation of Bajaj Finance fell by Rs 14,366.34 crore, reaching Rs 4,32,932.18 crore.
These changes in market valuations were influenced by the overall weak trend in equities during the mentioned period, which resulted in declines in the market capitalization of these companies. Fluctuations in market valuations are a common occurrence in the stock market, and they can be affected by various factors such as corporate performance, market sentiment, economic conditions, and global market trends. Investors and analysts carefully assess such developments to make informed decisions about their investments.
During the specified period, the market capitalization of several top companies witnessed fluctuations. Here are the changes in the market capitalization (mcap) of the mentioned companies:
1. Reliance Industries: The mcap of Reliance Industries went lower by Rs 11,806 crore to Rs 16,98,270.74 crore.
2. Hindustan Unilever: The mcap of Hindustan Unilever declined by Rs 9,069.42 crore to Rs 5,98,299.92 crore.
3. Bharti Airtel: The valuation of Bharti Airtel dipped by Rs 2,460.74 crore to Rs 4,97,908.56 crore.
4. TCS: On the other hand, the mcap of TCS jumped Rs 31,815.45 crore to Rs 12,59,555.25 crore.
5. Infosys: Infosys added Rs 15,791.49 crore, taking its valuation to Rs 5,72,062.52 crore.
6. HDFC Bank: The mcap of HDFC Bank climbed Rs 7,080.63 crore to Rs 12,47,403.26 crore.
Based on these changes in mcap, the most valued firms in the country during the mentioned period were:
1. Reliance Industries
2. TCS
3. HDFC Bank
4. ICICI Bank
5. Hindustan Unilever
6. Infosys
7. ITC
8. State Bank of India
9. Bharti Airtel
10. Bajaj Finance
Fluctuations in market capitalization are a common occurrence in the stock market and can be influenced by a range of factors, including company performance, market sentiments, economic conditions, and global market trends. Investors and analysts closely monitor these changes to understand the market dynamics and make informed investment decisions.
