Market cap of India's top 7 firms up by ₹74,573cr
What's the story
In a holiday-shortened week, the combined market capitalization of seven out of India's top 10 most valued companies surged by ₹74,573.63 crore. The spike was largely attributed to a positive trend in equities, with HDFC Bank emerging as the biggest gainer. The BSE benchmark rose by 780.71 points or 0.97%, while Nifty gained by 239.55 points or 0.97% during this period.
Highs
HDFC Bank leads gains among top firms
HDFC Bank's market capitalization witnessed a massive jump of ₹30,106.28 crore, taking its total valuation to ₹14,81,889.57 crore. The Life Insurance Corporation of India (LIC) also saw a major increase in its market cap by ₹20,587.87 crore to reach ₹5,72,507.17 crore. Other companies that gained include State Bank of India (SBI), Hindustan Unilever Ltd., ICICI Bank, and Bajaj Finance with their respective valuations rising significantly during this period.
Valuation increases
TCS also witnesses rise in market cap
The market capitalization of SBI surged by ₹9,276.77 crore to ₹8,00,340.70 crore, while Hindustan Unilever's valuation climbed by ₹7,859.38 crore to reach ₹5,97,806.50 crore. Tata Consultancy Services (TCS) also witnessed a rise in its market cap by ₹741.71 crore, taking it up to an impressive ₹10,50,023.27 crore during this period.
Market gains
Bajaj Finance sees marginal increase in market cap
ICICI Bank's market capitalization also witnessed a marginal increase of ₹3,108.17 crore, taking its total valuation to ₹9,75,115.85 crore. Meanwhile, Bajaj Finance saw an uptick in its market cap by ₹2,893.45 crore to reach ₹6,15,808.18 crore.
Market downturns
Reliance, Bharti Airtel, Infosys see decline in valuations
Despite the overall positive trend in equities, some companies like Reliance Industries, Bharti Airtel, and Infosys witnessed a decline in their valuations. Reliance Industries saw a dip of ₹19,351.44 crore from its valuation, which now stands at ₹18,45,084.98 crore. Bharti Airtel's market cap also fell by ₹12,031.45 crore to reach ₹10,80,891.08 crore, while Infosys's valuation dipped slightly by ₹850.32 crore to settle at ₹6,00,954.93 crore.