Unfortunately for SBI, the biggest government bank in India loses Rs 44935 crore in just five days because of
The largest state-run bank in the nation, the State Bank of India (SBI), suffered a significant setback when its market value plummeted by an astounding Rs 44,935.46 over the previous five days.
According to market data, SBI’s market capitalization (mcap) dropped to Rs 6,63,233.14 crore during the week, while HDFC Bank’s valuation dropped to Rs 12,67,440.61.
Additionally, billionaire Mukesh Ambani-led Reliance Industries, ICICI Bank
The market values of billionaire Mukesh Ambani’s Reliance Industries, ICICI Bank, State Bank of India, and ITC also declined during this time, but TCS of the Tata Group, Bharti Airtel led by Sunil Mittal, Narayana Murthy’s Infosys, Hindustan Unilever, and HCL Technologies saw increases. In keeping with a poor trend in domestic stocks, five of India’s top ten most valuable companies—including Reliance Industries, the country’s most valuable company—saw a total loss in market valuation of Rs 1,85,952.31 crore last week, with HDFC Bank suffering the most. Though the BSE benchmark fell 1,844.2 points, or 2.32 percent, and the Nifty fell 573.25 points, or 2.38 percent, Reliance Industries continued to be the most valuable domestic company despite the erosion, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, Hindustan Unilever, ITC, and HCL Tech.
