India's Top 10 Most Valued Firms Lose Rs 16,242.87 Crore In Market Cap As RIL, TCS Weigh

India's top 10 most valued firms collectively lost Rs 16,242.87 crore in market valuation on Tuesday, led by Reliance Industries Ltd., tech giant Tata Consultancy Services Ltd., and Hindustan Unilever Ltd. While ICICI Bank Ltd., Bharti Airtel Ltd., ITC Ltd., and Infosys Ltd. were among the gainers for the day.

India's benchmark stock indices ended lower on Tuesday, tracking the losses in index heavyweight Reliance Industries Ltd. after it reported lower than expected profit in the September quarter. The Mukesh Ambani-led conglomerate's second quarter earnings showed a decline in its oil-to-chemical business, subsequently affecting profit. RIL contributed 37.36 points of the 65-point fall in the Nifty 50.

Nifty ended 0.28% or 70.60 points, lower at 25,057.35 and Sensex closed 0.19% or 152.93 points, down at 81,820.12. Intraday, Nifty fell 0.5% and Sensex fell 0.4%.

RIL lost Rs 38,193.04 crore in market capitalisation to Rs 18.19 lakh crore, and TCS lost Rs 6385.92 crore, pulling its market capitalisation to Rs 14.90 lakh crore. TCS' profit fell in the second quarter of fiscal 2025, missing estimates, even as its revenue rose during the period. Profit of the IT major was down 1.1% at Rs 11,909 crore in the July-September period. This compares to a Bloomberg estimate of Rs 12,543 crore.

HDFC Bank Ltd., State Bank of India, and Hindustan Unilever Ltd. were the other losers for the day.

On the other hand, the valuation of ICICI Bank rose by Rs 17,085.79 crore to Rs 8.849 lakh crore. Bharti Airtel added Rs 12,325.68 crore to its market capitalisation to reach Rs 9.77 lakh crore. ITC and Infosys also reported gains in market valuation on Tuesday.

Reliance Industries remained the most valued firm, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, the State Bank of India, HUL, ITC, and HCL Tech. HCL Tech on Wednesday had taken over Larsen And Toubro Ltd. in terms of market cap.