Market cap of India's top 7 firms up ₹1.4L crore
What's the story
Seven of the most valued companies in India, witnessed a significant increase in their combined market valuation last week. The total rise amounted to ₹1,40,863.66 crore with Tata Consultancy Services (TCS) and Infosys leading the pack. This surge occurred during a week shortened by a holiday, and was accompanied by a nearly 1% gain in the BSE benchmark Sensex.
Top gainers
TCS and Infosys lead surge
TCS and Infosys were the top performers in this market valuation surge. TCS's market capitalization rose by ₹67,477.33 crore to reach a total of ₹15,97,946.44 crore. Meanwhile, Infosys added ₹36,746.21 crore to its valuation, bringing it up to ₹7,72,023.49 crore. These significant gains reflect a positive trend on Dalal Street during the past week.
Additional gains
Other companies also see market cap rise
Bharti Airtel's valuation climbed by ₹11,727.55 crore to ₹8,45,123.87 crore, while ICICI Bank's market cap rose by ₹10,913.96 crore to reach ₹8,36,115.19 crore. ITC also experienced a surge in its market cap by ₹8,569.73 crore, reaching a total of ₹6,28,399.10 crore during this period. Reliance Industries added another ₹5,311.4 crore to its valuation, taking it up to an impressive total of ₹20 lakh crore.
Valuation decline
Dips for LIC, HDFC Bank, and SBI
In contrast to the overall positive trend, three companies saw a dip in their market capitalization. Life Insurance Corporation of India (LIC) experienced a decrease of ₹47,943.48 crore, bringing its total valuation down to ₹6,69,058.26 crore. HDFC Bank's valuation fell by ₹13,064 crore to end at ₹12,43,441.53 crore, while State Bank of India's market cap dropped by ₹10,486.42 crore settling at ₹7,25,080.10 crore for the week.
Market leader
Reliance Industries remains most valued company
Despite the fluctuations in market capitalization, Reliance Industries maintained its position as the most valued company. It was followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, SBI, LIC, Hindustan Unilever and ITC in terms of market valuation. This ranking underscores the significant role these companies play in India's economic landscape.