Rs 2.24 lakh crore wiped off from 8 of top-10 most valued firms; Reliance, HDFC Bank lead losses
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The combined market valuation of eight of the top-10 most valued firms eroded by Rs 2,24,630.45 crore last week, with Reliance Industries and HDFC Bank taking the biggest hit, in-line with a bearish trend in equities. Last week, the BSE benchmark dropped 1,497.2 points, or 1.84 per cent. From the top-10 pack, Reliance Industries, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Bajaj Finance and Life Insurance Corporation of India (LIC) faced erosion from their market valuation, while Tata Consultancy Services (TCS) and Hindustan Unilever were the gainers. The market capitalisation (mcap) of Reliance Industries tumbled Rs 70,707.17 crore to Rs 18,36,424.20 crore. HDFC Bank's valuation eroded Rs 47,482.49 crore to Rs 14,60,863.90 crore. Live Events The mcap of ICICI Bank tanked Rs 27,135.23 crore to Rs 9,98,290.96 crore and that of Bharti Airtel dropped Rs 24,946.71 crore to Rs 10,77,213.23 crore. The valuation o...