Monday, 26 February 2024
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India’s top five companies lost ₹1.67 lakh crore

  • A substantial drop of ₹1,67,936.21 crore in the valuation of five out of the top ten Indian companies occurred last week.
  • ICICI Bank, Infosys, Bharti Airtel, LIC, and ITC had increases in valuation.
  • Reliance Industries, Tata Consultancy Services, HDFC Bank, Hindustan Unilever, and State Bank of India saw decreases.

A substantial drop of ₹1,67,936.21 crore in the valuation of five out of the top ten Indian companies occurred last week, with HDFC Bank experiencing the biggest reduction. Also reporting a 1.57 percent decline was the 30-share BSE benchmark.

ICICI Bank, Infosys, Bharti Airtel, LIC, and ITC had increases in valuation whereas Reliance Industries, Tata Consultancy Services, HDFC Bank, Hindustan Unilever, and State Bank of India saw decreases.

Indian Companies

Due to investor displeasure with the bank’s December quarter reports, HDFC Bank’s market valuation fell by more than 12%; however, shares recovered, rising by 0.54% on Saturday. The decrease was ascribed to disillusionment among investors.

The market value of Reliance Industries declined by ₹18,199.35 crore to ₹18,35,665.82 crore, while the value of Hindustan Unilever dropped by ₹17,845.15 crore to ₹5,80,184.57 crore and the value of TCS fell by ₹7,720.6 crore to ₹14,12,613.37 crore.

LIC, on the other hand, saw a ₹67,456.1 crore increase in market capitalization, hitting ₹5,92,019.78 crore. By market valuation, LIC has overtaken the State Bank of India (SBI) as the most valuable public sector enterprise (PSU) in the nation.

To reach ₹6,31,679.96 crore, the market valuation of Bharti Airtel climbed by ₹26,380.94 crore, that of Infosys by ₹15,170.75 crore, that of ICICI Bank by ₹3,163.72 crore, and that of ITC by ₹2,058.48 crore.

Ahead of TCS, HDFC Bank, ICICI Bank, Infosys, Bharti Airtel, LIC, ITC, Hindustan Unilever, and State Bank of India, Reliance Industries maintained its top spot on the list of the top ten most valuable corporations.b

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