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Saturday, April 20, 2024

Five of the top ten companies have lost $2.23 trillion in market value; Reliance and LIC are the two largest laggards

<p>Amidst a general negative trend in stocks, five of the top ten valued companies saw a cumulative loss of Rs 2,23,660 crore off their market valuation last week. Reliance Industries and Life Insurance Corporation of India suffered the most severe blows.</p>
<p><img decoding=”async” class=”alignnone wp-image-520667″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-five-of-the-top-ten-companies-have-lost-2-23-trillion-in-market-value-reliance-and-750×422.jpg” alt=”theindiaprint.com five of the top ten companies have lost 2 23 trillion in market value reliance and” width=”995″ height=”561″ title=”Five of the top ten companies have lost $2.23 trillion in market value; Reliance and LIC are the two largest laggards 12″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-five-of-the-top-ten-companies-have-lost-2-23-trillion-in-market-value-reliance-and-750×422.jpg 750w, https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-five-of-the-top-ten-companies-have-lost-2-23-trillion-in-market-value-reliance-and-768×432.jpg 768w, https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-five-of-the-top-ten-companies-have-lost-2-23-trillion-in-market-value-reliance-and-390×220.jpg 390w, https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-five-of-the-top-ten-companies-have-lost-2-23-trillion-in-market-value-reliance-and.jpg 1024w” sizes=”(max-width: 995px) 100vw, 995px” /></p>
<p>The BSE benchmark fell 1,475.96 points, or 1.99%, last week.</p>
<p>Tata Consultancy Services (TCS), HDFC Bank, Bharti Airtel, Infosys, and ITC were the winners while Reliance Industries, ICICI Bank, State Bank of India, Life Insurance Corporation of India (LIC), and Hindustan Unilever had a decline in their market capitalization (mcap).</p>
<p>Reliance Industries’ market capitalization plummeted to Rs 19,19,595.15 crore, the highest among the top ten companies.</p>
<p>The market value of State Bank of India fell by Rs 50,111.7 crore to Rs 6,53,281.59 crore, while the value of LIC fell by Rs 63,629.48 crore to Rs 5,84,967.41 crore.</p>
<p>Hindustan Unilever’s market capitalization fell by Rs 21,792.46 crore to Rs 5,46,961.35 crore, while ICICI Bank’s market capitalization fell by Rs 6,363.11 crore to Rs 7,57,218.19 crore.</p>
<p>Nonetheless, TCS’s market value increased to Rs 15,25,928.41 crore from Rs 38,858.26 crore.</p>
<p>Vijay Airtel’s market capitalization increased by Rs 11,976.74 crore to Rs 6,89,425.18 crore.</p>
<p>ITC’s value increased to Rs 7,738.51 crore from Rs 5,23,660.08 crore, while Infosys’ valuation increased to Rs 6,78,571.56 crore from Rs 7,450.22 crore.</p>
<p>Mcap for HDFC Bank increased by Rs 4,443.9 crore to Rs 11,03,151.78 crore.</p>
<p>In terms of market value, Reliance Industries remained at the top, with TCS, HDFC Bank, ICICI Bank, Bharti Airtel, Infosys, State Bank of India, LIC, Hindustan Unilever, and ITC following in order of importance.</p>

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