Market valuation of top Indian firms skyrockets by ₹3.28 trillion
Eight of India's most valued domestic firms collectively added ₹3.28 lakh crore to their market valuation last week, led by Tata Consultancy Services (TCS), Hindustan Unilever (HUL), and Reliance Industries. The BSE benchmark saw a significant increase of 2,732.05 points or 3.69% during this period. The BSE Sensex also hit a record high of 76,795.31, up 1,618.85 points or 2.16%, in intra-day trade on Friday.
Here are the major gainers
Among the top 10 companies, Reliance Industries, TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, HUL, and ITC saw gains in their market valuations. These firms collectively added a total of ₹3,28,116.58 crore to their market valuations. TCS emerged as the biggest gainer with its market valuation soaring by ₹80,828.08 crore to reach ₹14,08,485.29 crore. HUL followed closely with an addition of ₹58,258.11 crore taking its market capitalization to ₹6,05,407.43 crore.
Other firms witnessing m-cap increase
The valuation of Reliance Industries jumped significantly by ₹54,024.35 crore to reach a total of ₹19,88,741.47 crore. Infosys also saw its valuation rally by ₹52,770.59 crore to reach ₹6,36,630.87 crore. HDFC Bank's market capitalization soared by ₹32,241.67 crore to ₹11,96,325.52 crore. Bharti Airtel's valuation climbed by ₹32,080.61 crore to a total of ₹8,10,416.01 crore, while ITC's valuation surged by ₹16,167.71 crore to reach ₹5,48,204.12 crore. ICICI Bank's market cap shot up by ₹1,745.46 crore to reach ₹7,88,975.17 crore.
Laggards among top 10 companies
State Bank of India (SBI) and Life Insurance Corporation of India (LIC) didn't perform well and experienced a decline in market cap. The m-cap of LIC decreased by ₹12,080.75 crore to reach ₹6,28,451.77 crore, while that of SBI dropped by ₹178.5 crore to ₹7,40,653.54 crore.
