Top 8 Indian firms add ₹1.72L crore in market value
What's the story
The combined market capitalization of eight out of the top 10 most valued companies in India surged by ₹1.72 lakh crore last week. Reliance Industries led the rally with a major gain, mirroring a bullish trend in domestic equities. The BSE benchmark index also witnessed gains, rising by 709 points or 0.87%.
Market leaders
Take a look at the major gainers last week
Reliance Industries' market capitalization increased by ₹48,107.94 crore last week. This took its total market valuation to ₹19.07 lakh crore. Hindustan Unilever also saw a major jump in its m-cap, which surged by ₹34,280.54 crore to ₹6.17 lakh crore. Bharti Airtel and Bajaj Finance also witnessed significant gains, with Bharti Airtel's valuation increasing by ₹33,899.02 crore to ₹11.02 lakh crore and Bajaj Finance's valuation rising by ₹20,413.95 crore to ₹5.55 lakh crore during the same period.
Tech gains
Infosys, TCS, ICICI Bank also witnessed significant gains
Infosys's market capitalization rose by ₹16,693.93 crore to ₹6.18 lakh crore, while Tata Consultancy Services (TCS) witnessed a hike of ₹11,487.42 crore in its m-cap, taking it to ₹11.04 lakh crore. ICICI Bank's valuation also increased by ₹6,443.84 crore last week, with the bank's total market valuation reaching over ₹10 lakh crore during this period.
LIC update
LIC's market valuation saw a marginal increase
The Life Insurance Corporation of India's (LIC) market valuation saw a marginal increase. It rose by ₹822.25 crore, taking its total market capitalization to over ₹5.62 lakh crore. However, not all companies in the top 10 list fared well last week as HDFC Bank and State Bank of India (SBI) witnessed erosion in their valuations. M-cap of HDFC Bank dropped by ₹20,040.7 crore to ₹15.08 lakh crore, while SBI's declined by ₹9,784.46 crore to ₹7.53 lakh crore.