The combined market valuations of four of the ten most valuable companies on stock exchanges saw a major improvement – resulting in a decline of more than Rs. 1 lakh crore. IT giants TCS and Infosys emerged on top ahead of their Q4 results, while Reliance Industries and Bajaj Finance also posted significant declines in their valuations.
Altogether, Market Huge drop in valuation of top 10 most valuable companies 1,05,848.14 crore last week, according to a PTI report.
On the other hand, RIL, TCS, Infosys and Bajaj Finance saw huge corrections, on the other hand, HDFC Bank, ICICI Bank, HUL, SBI, HDFC and Bharti Airtel rose with combined gains. 51,628.12 crore.
TCS, which is set to announce its Q4 result on Monday, registered a decline of Rs. 40,640.76 crore in market valuation 13,49,037.36 crores. While the market cap of Infosys fell 36,703.8 crore and stood at 7,63,565.13 crores. Infosys will announce its fourth quarter results on April 13.
RIL which takes the top spot among the most valuable companies on the exchanges has seen its market valuation fall 25,503.68 crore to reach 17,70,205.42 crores. Whereas, the market cap of NBFC-giant Bajaj Finance fell 2,999.9 crores 4,45,810.84 crores.
In contrast, FMCG-major Hindustan Unilever (HUL) achieved a market cap of Overall 24,048.06 crores 5,12,857.03 crore, while the valuation of ICICI Bank increased 12,403.56 crore from 5,24,180.57 crores.
Further, the largest lender, SBI, achieved growth of 7,050.44 crore in market cap to 4,60,599.20 crore, while HDFC Bank added 4,880.07 crore to be valued at Rs. 8,40,204.91 crores.
Telecom giant Bharti Airtel’s market valuation rises 1,949.67 Cr to 4,18,574.86 crore, and HDFC’s market cap increased 1,296.32 crores 4,45,659.60 crores.
On the BSE, in terms of ranking, RIL leads, while TCS and HDFC Bank are at the second and third positions of the most valuable companies. Infosys is at the fourth position, followed by ICICI Bank, HUL, SBI, Bajaj Finance, HDFC and Bharti Airtel.
Market benchmarks ended on a positive note following RBI’s monetary policy outcome. The BSE Sensex closed at 59,447.18, up 412.23 points or 0.70% on Friday. The NSE Nifty 50 closed 144.80 points or 0.82% higher at 17,784.35.
download
The app will get 14 days of unlimited access to Mint Premium absolutely free!