Connect with us

Business

M-cap of 9 most valued companies erodes by over Rs 3 trn

Published

on

M-cap of 9 most valued companies erodes by over Rs 3 trn

As the sell-off continued, nine of the top 10 companies by market capitalization lost a combined total of Rs 3,091.7844 crore (about Rs 3 trillion) in market valuations last week.

The 30-stock BSE Sensex tumbled 1,836.95 points or 3.11% in the holiday-shortened week over the past week as geopolitical tensions, a global sell-off sparked by a hawkish Federal Reserve and unabated foreign outflows.

In the top 10, State Bank of India was the only winner, with its valuation jumping by Rs 18,340.07 crore to Rs 4,67,069.54 crore.

Advertisement

Valuations eroded were Reliance Industries Ltd (RIL), Tata Consultancy Services (TCS), HDFC Bank, Infosys, ICICI Bank, Hindustan Unilever Ltd (HUL), HDFC, Bajaj Finance and Bharti Airtel.

RIL’s market valuation fell by Rs 96,512.22 crore to Rs 15,79,779.47 crore, the biggest drop among the top 10 companies.

TCS lost Rs 53,488.29 crore to Rs 13,65,042.43 crore from its valuation.

The market capitalization (mcap) of Infosys fell by Rs 42,392.63 crore to Rs 7,08,751.77 crore and that of HDFC Bank fell by Rs 31,815.01 crore to Rs 8,11,061.12 crore.

Advertisement

The valuation of Bajaj Finance fell by Rs 30,333.64 crore to Rs 4,14,699.49 crore and that of ICICI Bank fell by Rs 16,291.53 crore to Rs 5,42,407.86 crore.

Bharti Airtel’s market capitalization plummeted to Rs 393,174.23 crore from Rs 15,814.77 crore.

HDFC’s valuation fell by Rs 13,319.96 crore to Rs 4,56,102.42 crore and HUL’s fell by Rs 9,210.39 crore to Rs 5,36,411.69 crore.

In the ranking of the top 10 companies, RIL remains the company with the highest market capitalization, followed by TCS, HDFC Bank, Infosys, ICICI Bank, HUL, State Bank of India, HDFC, Bajaj Finance and Bharti Airtel.

Advertisement

Complete News Source : Business Standard

Pahalgam Attack

Pachigam attack aftermath: International airlines avoid Pakistani airspace amid tensions with India

Published

on

By

Pachigam attack aftermath: International airlines avoid Pakistani airspace amid tensions with India

Due to a lengthier path, Lufthansa Flight LH760 from Frankfurt to New Delhi had to fly for over an hour longer on Sunday. Major foreign airlines, including Air France and Lufthansa, are avoiding Pakistani airspace as tensions between India and Pakistan remain high after a deadly terrorist assault in Pahalgam, Jammu and Kashmir, according to airlines and flight trackers on.

Monday. Air France agreed, stating that it had decided to halt flights over Pakistan due to the “recent evolution of tensions” between the two South Asian foes. “The airline has decided to suspend overflight of Pakistan until further notice,” Air France said in a statement, referring to the “recent evolution of tensions” between India and Pakistan The airline currently changing.

Advertisement

In the wake of the recent Pachigam terror attack, a significant shift in international aviation routes has occurred. Following an uptick in security concerns and rising geopolitical tensions between India and Pakistan, several international airlines have opted to avoid Pakistani airspace, rerouting their flights to ensure passenger safety. The decision comes nations.

The Pahagam Terror Attack: A Trigger for Renewed Tensions

On the night of the attack in Pachigam, a popular tourist destination in Jammu and Kashmir, militants carried out a series of strikes on civilian and military targets. The assault left a number of casualties, both military personnel and civilians, sparking widespread condemnation. The attack, attributed to militant groups operating from across the border.

Airlines’ Concerns Over Safety and Security

In response to the escalating threat in the region, several international airlines, including prominent carriers from Europe, the Middle East, and Asia, have started to reroute their flights to avoid crossing Pakistani airspace. These precautionary measures, while not unprecedented, are a direct reflection of the security situation that has worsened in the wake of the attack.

Airlines typically rely on international aviation corridors for the fastest and most efficient flight paths, and Pakistani airspace has historically been a critical component of many international routes connecting Europe and Asia. However, in light of the heightened risk of military conflict, commercial carriers have begun to take proactive steps to avoid the region.

Advertisement

European carriers, such as Lufthansa and Air France, have adjusted their flight paths over the past few weeks, choosing to bypass Pakistan altogether. Similarly, Middle Eastern giants, like Emirates and Qatar Airways, have rerouted certain flights to avoid potential risks associated with flying in close proximity to the disputed borders. These changes have led to longer flight.

The International Air Transport Association (IATA) has noted that these changes, while necessary, come with considerable logistical and financial consequences. Airlines must navigate alternative routes, which may lead to higher fuel consumption and longer durations of travel. Nevertheless, passenger safety is the highest priority, and the industry remains.

Diplomatic Implications and Regional Stability

The rerouting of international flights has far-reaching implications, not only in terms of aviation logistics but also for regional diplomacy. The decision to avoid Pakistani airspace can be seen as a subtle but clear indication of the international community’s concerns regarding with the growing uncertainty in the region, underscores the volatile nature of South the security situation between India and Pakistan. Such moves may further isolate Pakistan.

The Future of Aviation in the Region

As the situation unfolds, the aviation industry is closely monitoring developments. For international carriers, navigating the delicate balance between commercial operations and national security concerns is no small task. In the coming weeks, further changes in flight patterns are expected, depending on how the diplomatic and military tensions between India.

Advertisement
  • Group Media Publication
  1. Construction, Infrastructure and Mining   
  2. General News Platforms – IHTLive.com
  3. Entertainment News Platforms – https://anyflix.in/

Continue Reading
Anyskill-ads

Facebook

Trending