erosion-in-mcap-of-top-10-most-valued-firms-by-2-99-lakh-cr

As the BSE benchmark tanked 2,199.77 points or 2.66 per cent last week, dragged mostly by new US tariffs on Indian pharma and hiked US H-1B visa fees, there was massive erosion in the market valuation of the top-10 most-valued firms as well. 

The drop in market capitalisation (mcap) was led mostly by IT bellwether Tata Consultancy services, which took the biggest hit of ₹97,597.91 crore to settle at ₹10,49,281.56 crore.

The combined market loss amounted to ₹2,99,661.36 crore.

Ponmudi R, CEO – Enrich Money, an online trading and wealth tech firm, said a sharp hike in H-1B visa fees led to heavy unwinding in technology stocks, while also pressuring the Indian rupee, which slipped to a record low against the US dollar.

 

Also Read: Mcap of seven of top-10 most-valued firms jumps by ₹1.18 lakh-cr

“Adding to the headwinds, the imposition of 100 per cent tariffs on branded and patented pharmaceutical imports to the US further dampened sentiment, with ripple effects felt across multiple sectors and weighing heavily on market confidence,” he said.

Another heavyweight to take the hit was Reliance Industries, whose valuation eroded by ₹40,462.09 crore to ₹18,64,436.42 crore.

Infosys also lost ₹38,095.78 crore from its market valuation, which stood at ₹6,01,805.25 crore.

The market capitalisation (mcap) of HDFC Bank tanked by ₹33,032.97 crore to ₹14,51,783.29 crore, and that of ICICI Bank dived ₹29,646.78 crore to ₹9,72,007.68 crore.

Bharti Airtel's valuation fell by ₹26,030.11 crore to ₹10,92,922.53 crore, and that of Life Insurance Corporation of India (LIC) diminished by ₹13,693.62 crore to ₹5,51,919.30 crore.

The mcap of Hindustan Unilever dropped by ₹11,278.04 crore to ₹5,89,947.12 crore, and that of Bajaj Finance declined by ₹4,977.99 crore to₹6,12,914.73 crore.

The market valuation of State Bank of India dipped by ₹4,846.07 crore to ₹7,91,063.93 crore.

Reliance Industries retained the title of the most-valued firm, followed by HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Bajaj Finance, Infosys, Hindustan Unilever and LIC.