Bajaj Finance Market Value Plummets Over Rs 14,000 Crore

Bajaj Finance’s market capitalisation dropped by more than Rs 14,000 crore last week, reflecting a significant downturn that affected several of India’s top companies. The decline was part of a broader sell-off in equities, driven by global uncertainties, foreign investor outflows, and a weakening rupee.

The combined market value of nine out of the ten most valued companies in India fell by Rs 2.51 lakh crore during the same period, indicating widespread market distress. Bajaj Finance’s market capitalisation decreased by Rs 14,093.93 crore, bringing its total valuation to Rs 5,77,353.23 crore. This downturn coincided with the benchmark Sensex, which faced heavy selling pressure and fell by 2,032.65 points, or 2.43 percent.

Market Conditions and Expert Analysis

Market analysts attributed the sharp sell-off to negative global indicators and persistent selling by foreign institutional investors. The pressures of a weakening rupee and disappointing corporate earnings further compounded investor unease. Ajit Mishra, Senior Vice President of Research at Religare Broking, noted that “the markets experienced a significant sell-off with bears firmly in control throughout the week due to multiple domestic and global concerns.”

In addition to Bajaj Finance, other major companies also suffered considerable losses. Reliance Industries, for instance, was hit the hardest among the top firms, with its market valuation plummeting by Rs 96,960.17 crore to Rs 18,75,533.04 crore. Similarly, ICICI Bank’s valuation dropped by Rs 48,644.99 crore, bringing its total to Rs 9,60,825.29 crore, while HDFC Bank saw a decline of Rs 22,923.02 crore, resulting in a market value of Rs 14,09,611.89 crore.

Top Companies and Their Market Valuations

Other notable declines included Bharti Airtel, which lost Rs 17,533.97 crore to reach a valuation of Rs 11,32,010.46 crore, and Tata Consultancy Services, which saw a drop of Rs 16,588.93 crore, settling at Rs 11,43,623.19 crore. Larsen & Toubro’s market capitalisation decreased by Rs 15,248.32 crore, bringing it down to Rs 5,15,161.91 crore. The State Bank of India lost Rs 11,907.5 crore, resulting in a valuation of Rs 9,50,199.77 crore, while Infosys saw a decline of Rs 7,810.77 crore, taking its valuation to Rs 6,94,078.82 crore.

In contrast, Hindustan Unilever emerged as the only gainer among the top ten firms, with its market capitalisation increasing by Rs 12,311.86 crore to Rs 5,66,733.16 crore. Despite the significant weekly losses, Reliance Industries retained its position as India’s most valued company, followed closely by HDFC Bank, TCS, Bharti Airtel, and ICICI Bank.

As market conditions continue to fluctuate, investors will be closely monitoring developments that could influence stock performance and overall market sentiment in the coming weeks.