Market cap of 4 of India's most-valued firms surges ₹81,151cr
Four of India's top 10 most valued companies saw their combined market capitalization skyrocket last week. The surge was worth ₹81,151 crore, even as the BSE benchmark dipped slightly by 156.61 points or 0.19%. ICICI Bank and HDFC Bank were the biggest gainers during the period. Meanwhile, other big names like Reliance Industries and Tata Consultancy Services (TCS) saw their market valuations decline.
ICICI Bank and HDFC Bank lead surge
Leading the surge was ICICI Bank, which added ₹28,495 crore to its market capitalization, taking its total valuation to ₹8.90 lakh crore. Close behind was HDFC Bank, whose valuation soared by ₹23,579 crore to settle at ₹12.82 lakh crore. The massive gains highlighted the banks' stellar performance in a week, that was otherwise dominated by overall market fluctuations.
SBI and Bharti Airtel also witness increase
The State Bank of India (SBI) also saw its market cap rise last week, with its valuation increasing by ₹17,804 crore to ₹7.31 lakh crore. Bharti Airtel's market value increased by ₹11,272 crore, taking its total valuation to ₹9.71 lakh crore.
Market cap dips for Reliance Industries, TCS, and others
On the other hand, a host of top companies saw their market capitalization decline last week. Infosys's market cap declined by ₹23,314 crore to ₹7.80 lakh crore, while Reliance Industries's valuation fell by ₹16,645 crore to ₹18.38 lakh crore. Other companies that suffered a loss include Hindustan Unilever (down by ₹15,248 crore), TCS (down by ₹10,402 crore), and Life Insurance Corporation of India (LIC) which lost ₹8,760 crore in valuation.
Reliance Industries remains India's most valued firm
Despite the dip in its market cap, Reliance Industries remained India's most valued domestic firm. It was followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, SBI, Hindustan Unilever, ITC, and LIC in the rankings. This shows that even as the market fluctuates and top firms perform differently, some still hold strong positions in terms of overall valuation.
