Market Valuations of Top 10 Firms: TCS, Airtel, ICICI Bank, and SBI Take Biggest Hits

The market valuation of 7 of the top 10 most valued firms in India eroded by ₹1.35 trillion last week. Tata Consultancy Services (TCS) saw the biggest hit, with a loss of ₹47,487.4 crore. However, Reliance Industries, HDFC Bank, and Hindustan Unilever gained, adding ₹39,989.72 crore to their valuation. The combined market valuation of the 7 firms declined, while the mcap of the 3 firms increased.

Title: Market Valuation of Top 10 Firms in India: TCS Suffers Major Hit, Reliance Industries Gains

The market valuation of seven of the top 10 most valued firms in India eroded by ₹1.35 trillion last week. Tata Consultancy Services (TCS) saw the biggest hit, with a loss of ₹47,487.4 crore. However, Reliance Industries, HDFC Bank, and Hindustan Unilever gained, adding ₹39,989.72 crore to their valuation. The combined market valuation of the seven firms declined, while the market capitalization (mcap) of the three firms increased.

Last week, the BSE benchmark index tanked 863.18 points or 1.05%, contributing to the overall erosion. TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Life Insurance Corporation of India (LIC), and Bajaj Finance faced a combined erosion of ₹1,35,349.93 crore from their market valuation. TCS's valuation tumbled ₹47,487.4 crore to ₹10,86,547.86 crore, while Bharti Airtel's mcap eroded by ₹29,936.06 crore to ₹10,74,903.87 crore. Bajaj Finance's valuation tanked ₹22,806.44 crore to ₹5,44,962.09 crore, and Infosys's mcap dropped by ₹18,694.23 crore to ₹6,10,927.33 crore.

Conversely, Reliance Industries, HDFC Bank, and Hindustan Unilever saw an increase in their market valuation. Reliance Industries added ₹2,029.87 crore, taking its valuation to ₹18,85,885.39 crore. HDFC Bank's mcap jumped ₹5,946.67 crore to ₹15,44,025.62 crore, while Hindustan Unilever Ltd added ₹32,013.18 crore, taking its valuation to ₹5,99,462.97 crore.

The overall market trend was influenced by various factors, including the layoff announcement by TCS, which led to a significant drop in its market capitalization. The IT major announced plans to lay off approximately 12,000 employees globally, impacting primarily middle and senior-level staff. This decision, aimed at transitioning the company to a future-ready organization focused on AI and market expansion, resulted in a significant drop in market capitalization, exceeding ₹28,000 crore over two days [3].

Meanwhile, Hindustan Unilever Ltd saw an upgrade in its stock rating by Goldman Sachs, which raised its price target to INR2,900 from INR2,400, citing expectations of sustained volume growth recovery. The investment bank noted that Hindustan Unilever’s volume growth moderated after the first quarter of fiscal year 2025 but has since shown gradual recovery, attributed to macro tailwinds and positive impacts from specific brand initiatives [5].

References:
[1] https://www.cnbctv18.com/market/mcap-of-7-of-top-10-valued-firms-erodes-by-rs-1-35-lakh-cr-tcs-biggest-laggard-19647797.htm
[2] https://economictimes.indiatimes.com/markets/stocks/news/mcap-of-6-of-top-10-most-valued-firms-drops-by-rs-2-22-lakh-cr-reliance-biggest-laggard/articleshow/122932648.cms
[3] https://timesofindia.indiatimes.com/business/india-business/layoff-impact-weighs-tcs-loses-rs-28149-crore-in-market-cap-in-2-days-12000-job-cuts-planned/articleshow/122980232.cms
[4] https://www.ndtv.com/business-news/tata-consultancy-services-shares-drop-after-layoff-announcement-8964643
[5] https://www.investing.com/news/analyst-ratings/goldman-sachs-upgrades-hindustan-unilever-stock-to-buy-on-volume-recovery-93CH-4164981