Major Indian companies, including the Mukesh Ambani-led Reliance and Tata Group, lost over Rs 94,961 crore in valuation in just five days. Reliance’s market valuation fell by Rs 60,824.68 crore to Rs 19,82,282.42 crore, and TCS’s (Tata Consultancy Services) fell by Rs 34,136.66 crore to Rs 16,12,762.51 crore. However, these two are not the only companies that suffered massive valuation crashes amid global weakness in equities.
In the last five days, BSE Sensex dropped by 1,181.84 points or 1.43%, resulting in a combined loss of Rs. 2.01 lakh crore of the top 10 most valued firms. SBI (State Bank Of India) valuation fell by Rs 29,495.84 crore to Rs 6,98,440.13 crore, while Bharti Airtel’s worth decreased by Rs 28,379.54 crore to Rs 8,76,207.58 crore.
Moreover, the market capitalisation of LIC (Life Insurance Committee) was eroded by Rs 16,381.74 crore to Rs 6,57,009.14 crore, and Infosys fell by Rs 17,061.44 crore to Rs 7,89,819.06 crore. Followed by a loss in the ICICI Bank’s valuation of Rs 15,169.76 crore to Rs 8,51,204.65 crore, while the Indian Tobacco Company’s valuation fell to Rs 6,27,337.65 crore.
On the contrary, HUL (Hindustan Unilever) and HDFC Bank increased their valuations by Rs 14,179.78 crore and Rs 3,735.35 crore, respectively.
Even after the dip, Reliance Industries remained the most valued company in India, followed by Tata Group. Mukesh Ambani remained the richest man in India, with a real-time net worth of USD 113.7 billion.