Top 7 Indian firms add ₹1L crore in market value
What's the story
The combined market capitalization of seven out of the top 10 most valued companies in India surged by ₹1.06 lakh crore last week. The rally was led by Bajaj Finance and Reliance Industries, amid a positive trend in the equity markets. The BSE Sensex gained 901 points or 1.12%, while the Nifty climbed 314 points or 1.28% during this period.
Market leaders
Major gainers in m-cap last week
Bajaj Finance saw its valuation jump by ₹37,961 crore to ₹5.83 lakh crore. Reliance Industries also witnessed a major gain with its market cap rising by ₹23,344 crore to ₹18.59 lakh crore. Other companies that saw an increase in their valuations include HDFC Bank (up by ₹17,580 crore), Life Insurance Corporation of India (LIC) (up by ₹15,559 crore), State Bank of India (SBI) (up by ₹4,246 crore), and Bharti Airtel (up by ₹4,134 crore).
Valuation rise
TCS, Infosys, HUL among top losers
ICICI Bank also saw a rise in its valuation by ₹3,426 crore to ₹10.01 lakh crore. However, not all companies in the top 10 list were able to maintain their market capitalization last week. Tata Consultancy Services (TCS) witnessed a major drop of ₹13,007 crore in its market cap, which now stands at ₹11.02 lakh crore. Infosys and Hindustan Unilever also saw declines of ₹10,427 crore and ₹6,297 crore, respectively, in their valuations during this period.