Mcap of 5 of top 10 cos falls by `1.97 lakh crore

New Delhi: The combined market valuation of five of the 10 most valued firms eroded by Rs 1,97,958.56 crore last week, with IT majors TCS and Infosys taking the biggest hit amid volatile trends in equities.

The market valuation of TCS tanked Rs 1,10,134.58 crore to Rs 14,15,793.83 crore, the most among the top 10 firms. The valuation of Infosys tumbled Rs 52,291.05 crore to Rs 6,26,280.51 crore.

IT stocks fell on Friday after tech giant Accenture lowered its revenue forecast for the sector for the 2023-24 fiscal.

Hindustan Unilever’s market valuation fell by Rs 16,834.82 crore to Rs 5,30,126.53 crore and that of Life Insurance Corporation of India (LIC) declined by Rs 11,701.24 crore to Rs 5,73,266.17 crore.

The market capitalisation (mcap) of HDFC Bank dipped Rs 6,996.87 crore to Rs 10,96,154.91 crore.

However, the valuation of Reliance Industries Limited jumped Rs 49,152.89 crore to reach Rs 19,68,748.04 crore.

State Bank of India added Rs 12,851.44 crore, taking its mcap to Rs 6,66,133.03 crore.

The mcap of ITC climbed Rs 11,108.51 crore to Rs 5,34,768.59 crore and that of Bharti Airtel went up by Rs 9,430.48 crore to Rs 6,98,855.66 crore.

ICICI Bank’s mcap jumped Rs 8,191.79 crore to Rs 7,65,409.98 crore.