Market cap of top 8 Indian companies surges ₹2.1L crore
What's the story
The combined market capitalization (m-cap) of eight out of the top 10 most valued firms in India saw a significant increase last week, with a jump of ₹2,10,330.26 crore.
Tata Consultancy Services (TCS) and Life Insurance Corporation of India (LIC) led the pack with the highest gains.
The BSE benchmark also rose by 85.31 points or 0.10%, reaching an all-time high on Friday at 81,587.76 points.
Information
TCS and LIC emerge as the biggest gainers
TCS saw its valuation surge by ₹42,639.16 crore, reaching a total of ₹15,56,772.61 crore. LIC also experienced a significant increase in market capitalization, rising by ₹36,748.23 crore to reach ₹7,01,695.24 crore.
Growth
Other major firms witnessing significant growth
Infosys added ₹33,569.16 crore to its valuation, bringing it up to ₹7,44,396.43 crore.
State Bank of India (SBI)'s market capitalization climbed by ₹26,372.23 crore to reach a total of ₹7,93,576.49 crore.
Hindustan Unilever's market cap soared by ₹24,494.49 crore to reach ₹6,40,651.30 crore, while ITC's market cap jumped by ₹19,420.52 crore to reach a total valuation of ₹5,92,679.30 crore.
Bharti Airtel's valuation increased by ₹16,223.03 crore to ₹8,31,928.39 crore, while ICICI Bank's valuation rose by ₹10,863.44 crore to ₹8,78,531.60 crore.
Market decline
Not all companies enjoyed market capitalization increase
Despite the overall market surge, not all companies experienced an increase in their market valuation.
The market capitalization of Reliance Industries fell by ₹56,799.01 crore to ₹21,03,829.74 crore, and HDFC Bank's market cap declined by ₹13,124.01 crore to ₹12,22,701.34 crore.
However, despite the decrease in its market valuation, Reliance Industries retained its position as the most valued firm in the top-10 table.