May 5th 2024.
Last week, the combined worth of the six most valuable companies in India dropped by a whopping Rs 68,417.14 crore. It was a shortened week due to the holiday, but it still saw some major losses for Bharti Airtel and Reliance Industries.
In contrast, Tata Consultancy Services, HDFC Bank, ICICI Bank, and State Bank of India saw gains in their market value while the others faced a decline. The BSE benchmark also saw a small increase of 147.99 points or 0.20 per cent.
The domestic equity markets were closed on Wednesday for Maharashtra Day, which may have contributed to the overall decline in market value. Specifically, Bharti Airtel saw a decrease of Rs 27,635.65 crore, bringing its worth to Rs 7,23,770.70 crore. Reliance Industries also took a hit of Rs 23,341.56 crore, bringing its valuation down to Rs 19,40,738.40 crore.
Other companies that experienced a decline in market capitalisation include Life Insurance Corporation of India, Infosys, ITC, and Hindustan Unilever. On the other hand, State Bank of India saw a significant increase of Rs 26,907.71 crore, bringing its worth to Rs 7,42,126.11 crore. ICICI Bank also gained Rs 24,651.55 crore, with a new valuation of Rs 8,02,401.77 crore.
Tata Consultancy Services saw a rally of Rs 9,587.93 crore, making its market value reach Rs 13,89,110.43 crore. Similarly, HDFC Bank saw an increase of Rs 6,761.25 crore, with a new worth of Rs 11,53,704.84 crore.
Overall, Reliance Industries remained the most valuable company among the top 10, followed by TCS, HDFC Bank, ICICI Bank, State Bank of India, Bharti Airtel, LIC, Infosys, ITC, and Hindustan Unilever. Despite the losses, these companies continue to hold significant value in the market. This was reported by PTI, a leading news agency in India.
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