Market cap of India's top 8 companies up ₹1.87L crore
What's the story
The market capitalization of eight out of the top 10 most valuable companies in India rose by a whopping ₹1.87 lakh crore last week. The surge was led by Bharti Airtel, which alone contributed over ₹58,800 crore to the total. The spike comes amid a positive trend in equities and improved risk sentiment due to easing geopolitical tensions globally.
Market leaders
Bharti Airtel tops the list
Bharti Airtel's market valuation soared by ₹58,831.52 crore to ₹11,25,125.21 crore last week. This was the highest among the top 10 companies and significantly contributed to the overall surge in market capitalization. The Life Insurance Corporation of India (LIC) also saw a massive jump in its valuation by ₹27,608.62 crore to ₹5,32,691.31 crore during this period.
Corporate growth
TCS, Reliance, L&T, ICICI Bank follow
Tata Consultancy Services (TCS) saw its market valuation rise by ₹20,731.64 crore to ₹9,34,063.56 crore last week. Reliance Industries also witnessed a major jump in its market capitalization by ₹20,231.05 crore to ₹18,47,317.84 crore during the same period. Larsen & Toubro's market cap rose by ₹18,577.91 crore, while ICICI Bank's mcap edged higher by ₹18,266.82 crore last week.
Tech and finance
SBI, Infosys gain; HDFC Bank, Bajaj Finance lose
The State Bank of India's (SBI) market valuation increased by ₹12,599.79 crore to ₹9,97,229.77 crore last week. Infosys's market cap also saw a rise of ₹10,650.1 crore to ₹5,34,774.50 crore during this period. However, HDFC Bank's mcap fell by ₹16,163.04 crore to ₹12,31,315.53 crore, while Bajaj Finance's market valuation decreased by ₹9,769.3 crore.