Mcap of 7 of top-10 most valued firms erode by Rs 1.22 trn; TCS, RIL lag

The combined market valuation of seven of the top-10 most valued firms eroded by Rs 1,22,107.11 crore last week, with Tata Consultancy Services and Reliance Industries emerging as the biggest laggards, in line with weak trend in equities.

Last week, the BSE benchmark fell 307.09 points, or 0.37 per cent, to 81,381.36.

The market valuation of country's largest IT firm Tata Consultancy Services (TCS) tumbled Rs 35,638.16 crore to Rs 15,01,723.41 crore.

The valuation of Reliance Industries slumped Rs 21,351.71 crore to Rs 18,55,366.53 crore.

ITC's valuation dropped Rs 18,761.4 crore to Rs 6,10,933.66 crore, while that of Hindustan Unilever Ltd's mcap was down Rs 16,047.71 crore to Rs 6,53,315.60 crore.

The market capitalisation (mcap) of Life Insurance Corporation of India (LIC) tanked Rs 13,946.62 crore to Rs 6,00,179.03 crore and that of ICICI Bank eroded Rs 11,363.35 crore to Rs 8,61,696.24 crore.

Also, HDFC Bank's mcap declined Rs 4,998.16 crore to Rs 12,59,269.19 crore.

Howeve