Market cap of India's top 9 companies up ₹2.15L crore
What's the story
The combined market capitalization of nine out of India's top 10 most valued companies witnessed a major surge, gaining ₹2.15 lakh crore last week. The rally was led by Bharti Airtel, which saw its valuation jump by over ₹52,000 crore. The upswing is largely attributed to easing geopolitical tensions and improved global investor confidence. Reliance Industries continued to be the most valued company.
Market boost
Bharti Airtel tops the chart
Bharti Airtel's market valuation witnessed the highest surge among the top 10 companies, jumping by ₹52,432.67 crore to ₹11,62,963.30 crore. The Life Insurance Corporation of India (LIC) also saw a major jump in its valuation by ₹51,675.23 crore to ₹5,56,726.30 crore. Bajaj Finance and Reliance Industries followed suit with their valuations soaring by ₹26,553.71 crore and ₹22,464.02 crore, respectively during this period.
Valuation rise
L&T, SBI also witness surge in m-cap
Other top companies like Larsen & Toubro and State Bank of India (SBI) also witnessed a jump in their market capitalization. L&T's m-cap climbed by ₹21,929.12 crore to ₹5,79,126.95 crore, while SBI's rallied by ₹16,753.57 crore to ₹9,55,415.07 crore during the same period last week. HDFC Bank and Hindustan Unilever also saw slight increases in their valuations during this period with m-caps edging higher by smaller amounts compared to others on this list.
Mixed fortunes
ICICI Bank sees increase, TCS reports slight dip
ICICI Bank's market valuation also saw an increase during this period, rising by ₹4,724.22 crore to ₹9,66,021.99 crore. Tata Consultancy Services (TCS) was the only company on this list that witnessed a slight dip in its market capitalization (over ₹12,000 crore).