Mcap of 6 of 10 most valued firms erodes by ₹1.71 lakh cr; Infosys, TCS major laggards

New Delhi, Jan 19 (PTI) The combined market valuation of six of the top 10 valued domestic firms eroded by ₹1.71 lakh crore last week, with IT majors Infosys and Tata Consultancy Services taking the biggest hit.

Last week, the BSE benchmark lost 759.58 points or 0.98 per cent, and the Nifty declined by 228.3 points or 0.97 per cent.

From the top 10 pack, Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank, Infosys, Hindustan Unilever and ITC faced a combined erosion of ₹1,71,680.42 crore in their market valuation while Reliance Industries, Bharti Airtel, State Bank of India and Life Insurance Corporation of India (LIC) were the gainers.

The valuation of Infosys tanked by ₹62,948.4 crore to ₹7,53,678.38 crore, the most among the top 10 firms. Infosys shares tanked nearly 6 per cent on Friday amid profit-taking after the announcement of the third quarter earnings.

The market capitalisation (mcap) of TCS tumbled by ₹50,598.95 crore to ₹14,92,714.37 crore.

Hindustan Unilever's valuation dropped by ₹20,605.92 crore to ₹5,53,152.52 crore and that of ICICI Bank diminished by ₹16,005.84 crore to ₹8,65,495.17 crore.

The mcap of HDFC Bank declined by ₹15,640.8 crore to ₹12,51,799.81 crore and that of ITC went lower by ₹5,880.51 crore to ₹5,50,702.93 crore.

However, the valuation of Reliance Industries surged ₹79,773.34 crore to ₹17,60,967.69 crore.

The mcap of State Bank of India jumped ₹18,697.08 crore to ₹6,81,930.22 crore. LIC added ₹9,993.5 crore taking its market valuation to ₹5,40,724.05 crore. The mcap of Bharti Airtel climbed ₹7,080.98 crore to ₹9,27,014.97 crore.

Reliance Industries remained the most valued firm followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, Hindustan Unilever, ITC and LIC.