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Reliance, State Bank of India, Hindustan Unilever, and ICICI Bank saw a significant drop in their market caps.
On the flip side, Tata Consultancy Services, Bharti Airtel, ITC, Infosys, and HDFC Bank enjoyed a boost in their market valuations.
This shows the dynamic nature of the market, with some companies losing value while others gain.

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The company retained its leading position among the most valued firms despite a notable market-cap drop

Reliance leads top 5 firms with significant market cap drop

By Akash Pandey

Mar 17, 2024

02:41 pm

What's the story

Over the past week, five of India's top 10 valued companies experienced a combined market capitalization loss of Rs. 2,23,660 crore. Reliance Industries and Life Insurance Corporation of India (LIC) were hit the hardest. Reliance Industries' market cap plunged by Rs. 81,763.35 crore to Rs. 19,19,595.15 crore. LIC's market value dropped by Rs. 63,629.48 crore to Rs. 5,84,967.41 crore. During this time, the BSE benchmark index fell by 1,475.96 points or 1.99%.

Information

Other companies with eroded market cap

State Bank of India's value declined by Rs. 50,111.7 crore to Rs. 6,53,281.59 crore. Hindustan Unilever and ICICI Bank also saw their market caps decrease by Rs. 21,792.46 crore and Rs. 6,363.11 crore, respectively.

M-cap increase

These firms witnessed an increase

Tata Consultancy Services (TCS) enjoyed a significant market valuation increase of Rs. 38,858.26 crore to Rs. 15,25,928.41 crore. Bharti Airtel's market cap rose by Rs. 11,976.74 crore to Rs. 6,89,425.18 crore, while ITC and Infosys experienced gains of Rs. 7,738.51 crore and Rs. 7,450.22 crore, respectively. Additionally, HDFC Bank's market cap grew by Rs. 4,443.9 crore to Rs. 11,03,151.78 crore.