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Monday, Aug 08, 2022
Outlook.com
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RIL, Bajaj Finance, Others’ Market Value Down By Rs 2.61 Lakh Crore This Week

Reliance Industries saw its market worth tank by Rs 38,440.66 crore to Rs 15,30,109.51 crore. Infosys’s valuation took a hit of Rs 37,950.03 crore to reach Rs 7,10,925.34 crore and that of HDFC plummeted by Rs 33,067.68 crore to Rs 4,96,168.98 crore.

RIL, Bajaj Finance, Others’ Market Value Down By Rs 2.61 Lakh Crore This Week
RIL, Bajaj Finance, Others’ Market Value Down By Rs 2.61 Lakh Crore This Week
outlookindia.com
2021-11-28T14:40:36+05:30

The market valuation of nine of the top-10 most valued companies eroded by Rs 2,62,146.32 crore last week in tandem with an overall weak broader market, where Bajaj Finance and Reliance Industries took the biggest hit.

During the last week, the BSE benchmark Sensex plunged by 2,528.86 points or 4.24 per cent.

Bharti Airtel was the only gainer from the top-10 companies' list.

The valuation of Bajaj Finance tumbled by Rs 41,518.24 crore to Rs 4,10,670.50 crore.

Reliance Industries saw its market worth tank by Rs 38,440.66 crore to Rs 15,30,109.51 crore.

The valuation of Infosys took a hit of Rs 37,950.03 crore to reach Rs 7,10,925.34 crore and that of HDFC plummeted by Rs 33,067.68 crore to Rs 4,96,168.98 crore.

State Bank of India's market capital dropped by Rs 29,852.83 crore to Rs 4,19,902.97 crore and ICICI Bank lost Rs 28,567.03 crore to Rs 5,01,039.91 crore.

The market capitalisation (m-cap) of HDFC Bank dipped by Rs 26,873.77 crore to Rs 8,25,658.59 crore and that of Hindustan Unilever Ltd (HUL) fell by Rs 14,778.93 crore to Rs 5,48,570.82 crore.

The valuation of Tata Consultancy Services d(TCS) dipped by Rs 11,097.15 crore to Rs 12,74,563.64 crore.

In contrast, Bharti Airtel's valuation jumped Rs 12,769.55 crore to Rs 4,05,009.55 crore.

In the ranking of top-10 firms, RIL remained the most valued firm, followed by TCS, HDFC Bank, Infosys, HUL, ICICI Bank, HDFC, State Bank of India, Bajaj Finance and Bharti Airtel.

The sudden rise of new covid strain has punctured the global stock market due to which many analysts feel that market sentiments are going to be very unpredictable in the coming days.

A World Health Organisation panel has named the new COVID strain 'Omicron' and classified it as a highly transmissible variant of concern, the same category that includes the Delta variant.

The potentially more contagious Omicron was first reported to the WHO from South Africa on November 24, and has also been identified in Botswana, Belgium, Hong Kong and Israel. Many countries have introduced travel bans and restrictions on southern African countries in an effort to contain Omicron's spread.

(With PTI Inputs)

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