Summarize

Market cap of India's top 8 companies surges ₹1.21L crore

By Dwaipayan Roy

Sep 29, 2024

11:33 am

What's the story

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.

Market leader

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.

Significant contributors

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.

Market growth

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.

Losers

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.