M-cap of 8 top Indian firms skyrockets ₹1.48 lakh crore
What's the story
Eight of the top-10 most valued companies in India experienced a significant surge in their market capitalization last week, collectively adding ₹1,47,935.19 crore. The Life Insurance Corporation of India (LIC) and Reliance Industries emerged as the biggest gainers during this period of market capitalization growth. Concurrently, the Bombay Stock Exchange (BSE) benchmark also rose by 1,341.47 points or 1.84% last week.
Top gainers
LIC and Reliance Industries lead m-cap increase
The market valuation of LIC surged by ₹40,163.73 crore, reaching a total of ₹6,16,212.90 crore. Similarly, Reliance Industries saw a substantial increase in its market valuation, with an addition of ₹36,467.26 crore to reach a total of ₹19,41,110.70 crore. Meanwhile, Reliance Industries retained its position as the most valued firm, with TCS and others following closely.
Information
Other firms witnessing growth
Other companies that experienced growth include Bharti Airtel and HDFC Bank. The market valuation of Bharti Airtel climbed by ₹26,492.61 crore to reach ₹7,64,917.29 crore. HDFC Bank's m-cap also rallied, adding ₹21,136.71 crore to reach a total of ₹11,14,163.29 crore.
Market expansion
ICICI, Infosys, ITC, and SBI closely followed the trend
ICICI Bank, Infosys, ITC, and State Bank of India (SBI) also saw increases in their market cap during this period. ICICI Bank's m-cap surged by ₹9,570.68 crore to reach ₹7,94,404.51 crore, while Infosys saw an increase of ₹7,815.51 crore, reaching ₹5,99,376.39 crore. ITC's market capitalization rose by ₹4,057.54 crore to ₹5,44,895.67 crore, and SBI gained ₹2,231.15 crore, reaching ₹7,32,576.77 crore.
Information
TCS and Hindustan Unilever experienced m-cap decline
Despite the overall growth, not all firms saw an increase in their market capitalization. Tata Consultancy Services (TCS)'s m-cap declined by ₹16,588.94 crore to ₹13,92,963.69 crore. Similarly, Hindustan Unilever's m-cap dipped by ₹6,978.29 crore to reach a total of ₹5,46,843.87 crore during the same period.