The combined market valuation of seven of the top-10 most-valued firms eroded by ₹1.13 lakh crore last week, with Bharti Airtel and Reliance Industries emerging as the biggest laggards, in-tandem with a bearish trend in equities.

Last week, the BSE benchmark Sensex declined 276.32 points, or 0.35%, and the NSE Nifty dipped 76.35 points, or 0.31%.

“Indian equity markets ended the week on a cautious note, extending their recent corrective phase as concerns over global interest rates, geopolitical uncertainty and volatility surrounding the new closing auction session weighed on investor sentiment,” Ajit Mishra — SVP, Research, Religare Broking Ltd, said.

Although markets recovered sharply on Friday (August 28, 2026), supported by strong buying in IT stocks following upbeat global technology cues, the benchmark indices remained under pressure for the third consecutive week, he added.

While Reliance Industries, Bharti Airtel, HDFC Bank, Bajaj Finance, Larsen & Toubro, Life Insurance Corporation of India (LIC), and Hindustan Unilever faced erosion from their market valuation, ICICI Bank, State Bank of India, and Tata Consultancy Services (TCS) were the winners.

The valuation of Bharti Airtel tumbled ₹40,500.85 crore to ₹11,74,462.30 crore.

Reliance Industries’ valuation eroded ₹40,056.32 crore to reach ₹17,38,119.27 crore.

The market valuation of HDFC Bank dropped ₹11,558.35 crore to ₹11,09,600.70 crore and that of Bajaj Finance fell ₹10,086.05 crore to ₹6,70,535.57 crore.

Larsen & Toubro’s market capitalisation (mcap) declined ₹6,473.45 crore to ₹5,55,987.49 crore and that of LIC dipped ₹3,162.5 crore to ₹5,32,817.81 crore.

The mcap of Hindustan Unilever edged lower by ₹1,550.73 crore to ₹4,72,361.83 crore.

However, the mcap of TCS jumped ₹16,643.2 crore to ₹8,48,079.71 crore.

The valuation of ICICI Bank climbed ₹4,475.28 crore to ₹10,22,805.73 crore and that of State Bank of India went up ₹599.99 crore to ₹9,65,568.75 crore.

Reliance Industries remained the most-valued firm, followed by Bharti Airtel, HDFC Bank, ICICI Bank, State Bank of India, TCS, Bajaj Finance, Larsen & Toubro, LIC and Hindustan Unilever.

Published – August 30, 2026 11:33 am IST

Larsen & Toubro (L&T) has received an order from Hindustan Shipyard Limited (HSL) for part construction of two Fleet Support Ships (FSS) for the Indian Navy, the Indian conglomerate announced on July 9. The Indian Navy had signed a ₹19,000 crore contract with HSL for the design and construction of five FSS in August 2023.

“L&T will construct the two Fleet Support Ships at its greenfield shipyard at Kattupalli, near Chennai on the east coast of India. It is India’s most modern shipyard, designed in-house and built to globally benchmarked technological practices,” the company said in a statement. The contract was awarded to the precision engineering systems business vertical of L&T.

The FSS will be employed for replenishing ships at sea with fuel, water, ammunition, and stores, enabling the Indian Naval Fleet to operate for prolonged periods without returning to harbour. At more than 220 meter in length and with a displacement of approximately 44,000 tonnes, the FSS would be among the largest vessels in the Naval Fleet.

A decade after receiving its first defence shipbuilding order in March 2010, L&T has designed, built, and delivered more than 70 defence vessels exemplifying its ‘Make in India’ capabilities. It delivered most of these vessels either ahead of schedule or on schedule, the statement added.