Due to the fall in the shares of IT companies, Rs 3 lakh crore was wiped off the market cap of the big companies.Image Credit source: ChatGPT
Last week, there was such a storm in the IT sector of the stock market that even the best giants were seen getting defeated. TCS, the country’s largest IT company, suffered the biggest loss. On the other hand, Infosys also became the biggest partner of this loss. Which caused a loss of Rs 70 thousand crores in a week. If the market caps of TCS and Infosys are combined, then both these companies have incurred a loss of Rs 1.60 lakh crore. However, out of the top 10 companies of the country, 6 companies have incurred a loss of Rs 3 lakh crore. Apart from TCS and Infosys, HDFC Bank, Reliance Industries, Life Insurance Corporation of India (LIC) and Bharti Airtel have also suffered huge losses.
On the other hand, 4 out of the top 10 companies of the country have made a profit of Rs 1,68,831.67 crore. In which the largest stake is of the country’s largest lender State Bank of India. Whose market cap has seen an increase of about Rs 1.25 lakh crore. Along with this, the market position of Bajaj Finance, Larsen & Toubro and ICICI Bank has also seen an increase. However, last week, BSE’s main index Sensex has seen a decline of 953.64 points or 1.14 percent. Let us also tell you how much decline and how much growth has been seen in the market of major companies of the country.
How much has the market cap of major companies of the country declined?
- In the week under review, the market valuation of the country’s largest IT company TCS declined by Rs 90,198.92 crore to Rs 9,74,043.43 crore.
- Infosys, one of the largest IT companies in the country, had a valuation of Rs 5,55,287.72 crore with a loss of Rs 70,780.23 crore.
- The market value of HDFC Bank, the country’s largest private lender, declined by Rs 54,627.71 crore to Rs 13,93,621.92 crore.
- The valuation of the country’s largest company Reliance Industries declined by Rs 41,883 crore to Rs 19,21,475.79 crore.
- The market capitalization of the country’s largest insurance company LIC declined by Rs 23,971.74 crore to Rs 5,46,226.80 crore.
- The valuation of Bharti Airtel, one of the country’s largest telecom companies, declined by Rs 19,244.61 crore to Rs 11,43,044.03 crore.
- Contrary to this trend, the valuation of the country’s largest government lender SBI increased by Rs 1,22,213.38 crore to Rs 11,06,566.44 crore.
- The market capitalization of the country’s largest NBFC company Bajaj Finance increased by Rs 26,414.44 crore to Rs 6,37,244.64 crore.
- The valuation of the country’s largest infra company Larsen & Toubro increased by Rs 14,483.9 crore to Rs 5,74,028.93 crore.
- The market value of ICICI Bank, the country’s second largest private lender, increased by Rs 5,719.95 crore to Rs 10,11,978.77 crore.
