Market cap of top 6 firms surges by ₹1.19L crore
What's the story
In the last week, six of India's top 10 firms saw a massive surge in their market capitalization (m-cap) by ₹1,18,626.24 crore.
Tata Consultancy Services (TCS) led the race with a whopping gain, followed by Reliance Industries, Infosys, and others.
The BSE benchmark index (Sensex) gained 659.33 points or 0.83%, while the Nifty gained 187.7 points or 0.78%.
TCS' triumph
TCS' market valuation soars
TCS led the pack with its market valuation soaring by ₹53,692.42 crore to reach ₹12,47,281.40 crore. This significant increase outpaced other top firms in the market.
Reliance Industries also saw a substantial rise in its market capitalization by ₹34,507.55 crore to reach a total of ₹17,59,276.14 crore for the week ending April 25.
Additional gains
Other firms also see market valuation increase
Infosys and HDFC Bank also saw their m-cap surge.
Infosys's valuation rose by ₹24,919.58 crore to ₹6,14,766.06 crore, while HDFC Bank's surged by ₹2,907.85 crore to ₹14,61,842.17 crore.
State Bank of India (SBI)'s m-cap rose by ₹1,472.57 crore to ₹7,12,854.03 crore for the week ending April 25, as did ITC's cap, which rose by ₹1,126.27 crore to ₹5,35,792.04 crore for the same week.
Valuation losses
Bharti Airtel, Hindustan Unilever suffer market valuation losses
Despite the overall market surge, some firms saw their valuations dip.
Bharti Airtel's valuation fell by ₹41,967.5 crore to ₹10,35,274.24 crore while Hindustan Unilever's dropped by ₹10,114.99 crore to ₹5,47,830.70 crore.
So did Bajaj Finance, whose m-cap fell by ₹1,863.83 crore to ₹5,66,197.30 crore, and ICICI Bank's market capitalization fell by ₹1,130.07 crore to ₹10,00,818.79 crore.