Market cap of India's top 8 companies surges ₹1.21L crore
The combined market capitalization of eight out of the top 10 most valued firms in India, saw a significant surge last week. The total rise was ₹1,21,270.83 crore, with Reliance Industries emerging as the biggest gainer. This increase aligns with an exceptional rally in benchmark equity indices. BSE benchmark Sensex jumped 1,027.54 points or 1.21% to a record high of 85,978.25 on Friday.
Reliance Industries leads with significant jump
Reliance Industries was on fire, seeing its market valuation soar by ₹53,652.92 crore, hitting an impressive ₹20,65,197.60 crore. The State Bank of India (SBI) didn't lag behind either, witnessing a hefty rise of ₹18,518.57 crore, bringing its total to ₹7,16,333.98 crore. These big boosts played a major role in the overall surge in the market cap of the top players last week.
Bharti Airtel and ITC contribute to market cap surge
Bharti Airtel's market valuation took a big leap, jumping by ₹13,094.52 crore to hit a total of ₹9,87,904.63 crore. Meanwhile, ITC's market value grew by ₹9,927.3 crore, reaching ₹6,53,834.72 crore last week.
TCS, HDFC Bank, and LIC witness growth
Tata Consultancy Services (TCS) saw its market cap surge by ₹8,592.96 crore, to a total of ₹15,59,052 crore last week. HDFC Bank's valuation climbed up by ₹8,581.64 crore, reaching a total of ₹13,37,186.93 crore during the same period. Additionally, Life Insurance Corporation of India (LIC) experienced a significant increase in its market cap by ₹8,443.87 crore, to hit a total of ₹6,47,616.51 crore last week.
ICICI Bank and HUL stumble
Infosys added to the overall market cap boost with a small rise of ₹459.05 crore, pushing its total valuation to ₹7,91,897.44 crore last week. But it wasn't all sunshine for the top firms, as ICICI Bank's market value fell by ₹23,706.16 crore to ₹9,20,520.72 crore. Hindustan Unilever's (HUL) market cap also dropped by ₹3,195.44 crore, settling at ₹6,96,888.77 crore last week.
