M-cap of HDFC, ICICI, and Infosys soars by ₹1.06L crore
What's the story
In the previous week, the combined market capitalization of three leading firms in India saw a significant increase of ₹1,06,125.98 crore. HDFC Bank, Infosys, and ICICI Bank were the major gainers during this period. HDFC Bank's market cap surged by ₹52,091.56 crore to reach ₹12,67,056.69 crore. ICICI Bank added ₹36,118.99 crore to its valuation which now stands at ₹8,13,914.89 crore. Meanwhile, Infosys saw a rise in its market cap by ₹17,915.43 crore to reach ₹6,35,945.80 crore. .
Losers
Market valuation declines for several top firms
Despite the overall market gains, several top firms experienced a decrease in their market capitalisation last week. Reliance Industries's market cap fell by ₹32,271.31 crore to ₹19,66,686.57 crore. Life Insurance Corporation of India (LIC) lost ₹27,260.74 crore from its valuation which now stands at ₹6,47,616.51 crore. Other companies that faced a decline include ITC with a drop of ₹14,357.43 crore and Hindustan Unilever with a decrease of ₹8,904.95 crore in their respective valuations.
Market leaders
Reliance Industries retains top spot despite market fluctuations
Despite the market capitalization fluctuations among the top 10 firms, Reliance Industries managed to retain its position as the most valued firm. It is followed by Tata Consultancy Services (TCS), HDFC Bank, and ICICI Bank in terms of valuation. Other companies in the list include Bharti Airtel, State Bank of India, LIC, Infosys, Hindustan Unilever and ITC.