Market cap of India's 6 top firms rises by ₹88,678cr
What's the story
The Indian stock market witnessed a modest rise last week, with six of the top 10 companies gaining ₹88,678.1 crore in market capitalization. The surge was largely led by ICICI Bank, which saw its market valuation increase by ₹29,588.75 crore to ₹9,95,610.74 crore. Other major contributors included HDFC Bank and Reliance Industries (RIL), while Bharti Airtel and Tata Consultancy Services (TCS) suffered major losses in their valuations during the period under review.
Valuation shifts
Reliance, Bajaj Finance also gain in valuation
Apart from ICICI Bank, HDFC Bank's market valuation rose by ₹24,718.3 crore to ₹12,25,981.44 crore. Reliance Industries's valuation also saw a jump of ₹12,043.96 crore to ₹17,83,926.92 crore, while Bajaj Finance's climbed by ₹11,580.28 crore to ₹6,10,081.53 crore during the same period. The market capitalization of State Bank of India (SBI) rose by ₹9,322.93 crore to ₹9,64,738 crore. Larsen & Toubro also saw a marginal increase in its market cap by ₹1,423.88 crore to ₹5,80,550.83 crore during last week.
Valuation decline
Bharti Airtel, LIC lead losses
Some companies witnessed a decline in their market capitalization. Bharti Airtel's market cap fell by ₹35,615.21 crore to ₹11,27,348.09 crore, while Life Insurance Corporation of India's (LIC) valuation dropped by ₹21,188.74 crore to ₹5,35,537.56 crore. Tata Consultancy Services (TCS)'s valuation also declined by ₹11,143.71 crore to ₹7,58,206.42 crore, while Hindustan Unilever's dipped by ₹5,321.83 crore to ₹5,10,624.92 crore.