Business
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.
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.
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.
Complete News Source : Business Standard
%20(1).jpg "A priest recites prayers during a final viewing for the public to pay their respects to the former chairman of Tata Group Ratan Tata, in Mumbai, India.")
Business
Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise
%20(3).jpg "Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise")
Tributes continue to pour in for Ratan Tata, with Virat Kohli and Jay Shah taking to their social media accounts to bid farewell to the industrialist.
Former Indian captain and batting legend Virat Kohli paid a touching tribute to Ratan Tata, the legendary business tycoon, who passed away on Wednesday night. Tata, a Padma Vibhushan recipient, was undergoing treatment in intensive care since Monday but breathed his last in Mumbai, leaving a profound impact on many across the nation.
Kohli expressed his condolences through his Instagram account on Thursday morning, sharing a heartfelt message along with a photo of the late industrialist.
Tata’s contribution to business, society, and philanthropy has been widely acknowledged, and his passing marks the end of an era.
The Board of Control for Cricket in India (BCCI) secretary, Jay Shah, also conveyed his sorrow, stating, “Deeply saddened by the loss of Shri Ratan Tata Ji. His leadership, integrity, and dedication to society set a remarkable standard for legacy. My heartfelt condolences to his loved ones. Rest in peace, Sir.” Shah’s words reflect the collective grief of a nation that has long admired Tata’s contributions to the country.
BCCI’s tribute
Additionally, the BCCI issued a statement about his demise.
“The BCCI expresses its deepest sorrow and joins the nation in mourning the passing of Shri Ratan Tata ji. His invaluable contributions across diverse fields have been instrumental in shaping India’s growth and success story.
His extraordinary legacy, founded on the principles of passion, empathy, visionary leadership, innovation, and excellence, will continue to inspire and guide future generations for years to come,” the statement read.
Ratan Tata, born on December 28, 1937, in Mumbai, embarked on his journey with the Tata Group in 1962 as a young executive. Over the decades, he transformed the group into a global conglomerate. His work was acknowledged with India’s second-highest civilian honour, the Padma Vibhushan, in 2008, and he received numerous accolades, including honorary doctorates from prestigious institutions in India and abroad.
Tata is survived by his family, including brothers and sisters Simone Tata, Jimmy Tata, Noel Tata, Aloo Tata, Shireen Jejeebhoy, Deanne Jejeebhoy, Leah Tata, Maya Tata, Neville Tata, Manasi Tata, Jamset Tata, Tiana Tata, and others, as mentioned in a family statement.
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