News Update

Indian Market’s Top Firms Witness Combined Valuation Dip of Rs 77,434.98 Cr; ITC, HDFC Bank Major Laggards

• ByStartupStory     |    July 30, 2023

Seven of the top-10 most valued firms in the Indian market witnessed a decline in their combined market valuation, amounting to Rs 77,434.98 crore, during the previous week. The market downturn was in line with the muted trend in equities, where the BSE benchmark fell by 524.06 points or 0.78 per cent.

Among the major laggards in the top-10 pack were ITC and HDFC Bank. The market valuation of ITC suffered a setback of Rs 26,192.05 crore, bringing it down to Rs 5,83,732.19 crore. Similarly, HDFC Bank’s market capitalization declined by Rs 22,747.89 crore to reach Rs 12,40,322.63 crore, while Bajaj Finance Limited witnessed a plunge of Rs 12,127.47 crore, resulting in a market valuation of Rs 4,47,298.52 crore.

Reliance Industries faced a market valuation decline of Rs 5,818.43 crore, settling at Rs 17,10,076.74 crore, and TCS experienced a dip of Rs 5,214.15 crore, lowering its valuation to Rs 12,27,739.80 crore. Hindustan Unilever saw its valuation erode by Rs 4,417.23 crore, settling at Rs 6,07,369.34 crore, and ICICI Bank’s valuation dipped by Rs 917.76 crore, reaching Rs 6,96,495.74 crore.

On the other hand, Bharti Airtel’s market capitalization witnessed a positive upswing of Rs 5,643.3 crore, reaching Rs 5,00,369.30 crore, while Infosys climbed by Rs 4,129.44 crore to settle at Rs 5,56,271.03 crore. The market valuation of State Bank of India also gained Rs 981.71 crore, reaching Rs 5,49,800.72 crore.

In the ranking of top-10 companies, Reliance Industries retained its position as the most valued firm, followed by HDFC Bank, TCS, ICICI Bank, Hindustan Unilever, ITC, Infosys, State Bank of India, Bharti Airtel, and Bajaj Finance.

Follow Startup Story