Market cap of 7 top-valued firms rise Rs. 3L crore
What's the story
Last week, seven of India's top 10 most valued companies saw their combined market value increase by a whopping Rs. 3,04,477.25 crore.
HDFC Bank and Life Insurance Corporation of India (LIC) led the pack as the biggest gainers during a positive trend in equities.
This growth came during a bullish week for stocks, with the BSE benchmark index climbing 2,344.41 points or 3.47% last week.
The 30-share BSE Sensex hit new peak of 69,825.60 and highest intra-day level of 69,893.80.
Details
LIC's shares reached a 52-week high on December 7
HDFC Bank's market cap skyrocketed by Rs. 74,076.15 crore, reaching Rs. 12,54,664.74 crore, while LIC's market cap leaped by Rs. 65,558.6 crore to hit Rs. 4,89,428.32 crore.
Notably, LIC's shares experienced a 52-week high on December 7, nearly hitting the Rs. 5 lakh crore mark, but fell just short at the close.
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Take a look at the other winners
Other major winners included ICICI Bank, which rose to Rs. 7,08,836.92 crore, gaining Rs. 45,466.21 crore.
Tata Consultancy Services (TCS) witnessed a surge of Rs. 42,737.72 crore, reaching Rs. 13,26,918.39 crore, while Reliance Industries saw its market cap soar by Rs. 42,454.66 crore to Rs. 16,61,787.10 crore.
The valuation of the State Bank of India (SBI) increased by Rs. 37,617.24 crore, totaling Rs. 5,47,971.17 crore.
Meanwhile, Infosys advanced by Rs. 15,916.92 crore, reaching Rs. 6,18,663.93 crore.
Information
Reliance Industries maintained its lead as the most valued company
Reliance Industries held onto its spot as the most valued company among the top 10 firms, followed by TCS, HDFC Bank, ICICI Bank, Infosys, Hindustan Unilever, Bharti Airtel, ITC, State Bank of India, and LIC.
Loss
Market valuation declined for these firms
In the ranking of top-10 firms, not all companies shared in the gains.
Hindustan Unilever's market valuation dropped by Rs. 9,844.79 crore to Rs. 5,92,414.19 crore.
In contrast, Bharti Airtel's market cap dipped by Rs. 8,569.98 crore to Rs. 5,61,896.90 crore.
ITC also experienced a decline in market cap by Rs. 935.48 crore to Rs. 5,60,223.61 crore.