Massive win for Sunil Bharti Mittal as Airtel beats Ratan Tata’s TCS in…, Airtel is now India’s…
New Delhi: In a significant development, Indian billionaire Sunil Mittal has shown tremendous growth in the recent week. Overtaking Tata Consultancy Services (TCS) to become India’s third-largest company by market capitalisation, the Bharti Airtel founder has become India’s third-largest company by market capitalisation. Here are all the details you need to know about the recent development for Sunil Bharti Mittal’s Airtel and how it has overtaken Ratan Tata’s TCS.
How Bharti Airtel overtook TCS?
In the recent development, the shares of Airtel rose by 0.333 per cent on Monday, which led to increase in its market value to Rs 11.44 lakh crore, around Rs 2,000 crore more than TCS.
Mukesh Ambani’s Reliance Industries takes massive hit
As per a report by news agency PTI, the combined market valuation of 6 of the top-10 most valued firms declined by Rs 94,433.12 crore last week, with Tata Consultancy Services and Reliance Industries taking the biggest hit, in line with a bearish trend in equities. Last week, the BSE benchmark tumbled 742.74 points or 0.90 per cent.
The PTI report also added that While Reliance Industries, HDFC Bank, Tata Consultancy Services (TCS), Bharti Airtel, Infosys and Hindustan Unilever suffered erosion from their market valuation last week, ICICI Bank, State Bank of India, Bajaj Finance and Life Insurance Corporation of India (LIC) emerged as gainers.
In a significant shock for Ratan Tata’s TCS, the valuation of TCS tumbled Rs 27,334.65 crore to Rs 11,54,115.65 crore, the most among the top-10 firms.
How have HDFC Bank, Hindustan Unilever performed?
Reliance Industries suffered an erosion of Rs 24,358.45 crore to Rs 19,98,543.22 crore from its valuation.
The market capitalisation (mcap) of HDFC Bank tanked Rs 20,051.59 crore to Rs 15,00,917.42 crore.
Bharti Airtel’s mcap dropped by Rs 11,888.89 crore to Rs 10,83,998.73 crore, and that of Hindustan Unilever declined by Rs 7,330.72 crore to Rs 5,84,789.77 crore.
The mcap of Infosys dived Rs 3,468.82 crore to Rs 6,59,096.12 crore. However, the valuation of the State Bank of India jumped Rs 13,208.44 crore to Rs 7,34,763.97 crore.
(With inputs from agencies)
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