Tenth-largest Indian companies suffer massive hit, as TCS and Infosys contribute to Rs 25,000 crore erosion in market capitalization

In the Indian stock market, several top companies experienced significant changes in their market capitalization. ICICI Bank and Hindustan Unilever lost Rs 7,855 crore and Rs 3,912 crore, respectively, while HDFC Bank’s market cap decreased by Rs 3,852 crore. On the other hand, ITC and Reliance Industries gained Rs 9,318 crore and Rs 6,427 crore, respectively, taking their market caps to Rs 6.05 lakh crore and Rs 16.44 lakh crore, respectively. Reliance Industries remains the most-valued firm, followed by TCS, HDFC Bank, and others. The Indian benchmark indices, the Nifty 50 and Sensex, have risen for the ninth consecutive year, with the Nifty 50 increasing by 8.80% and the Sensex by 8.17% in 2024. Trent and Mahindra & Mahindra were the top performers in the Nifty 50, with Trent rising by 133.17% and Mahindra & Mahindra by 73.86%.