Market cap of India's top 7 companies up ₹1.2L crore
What's the story
The combined market capitalization of seven out of the top 10 most-valued companies in India rose by ₹1.23 lakh crore last week. The surge comes amid a positive trend in equities, with Reliance Industries leading the pack with the biggest jump in its valuation. The BSE benchmark Sensex gained 720.56 points, or 0.84%, during this period, reflecting the overall market optimism.
Valuation boost
Reliance's market valuation sees significant increase
Reliance Industries witnessed a massive jump in its market valuation, which rose by ₹45,266.12 crore to ₹21,54,978.60 crore. Other companies that saw an increase in their valuations include State Bank of India (SBI) and Larsen & Toubro (L&T). SBI's market capitalization increased by ₹30,414.89 crore to ₹9,22,461.77 crore, while L&T's valuation surged by ₹16,204.34 crore to reach ₹5,72,640.56 crore last week.
Market gains
Hindustan Unilever and HDFC Bank also see jump
Hindustan Unilever's market capitalization climbed by ₹14,626.21 crore to ₹5,51,637.04 crore last week. HDFC Bank's valuation also saw a rise of ₹13,538.43 crore to reach ₹15,40,303.87 crore during the same period. ICICI Bank's market capitalization advanced by ₹3,103.99 crore to touch ₹9,68,773.14 crore, while Bharti Airtel's mcap went up marginally by ₹570.21 crore reaching a total of ₹12,01,262.53 crore.
Valuation decline
Some companies face valuation erosion
Not all companies in the top 10 list witnessed a rise in their market capitalization. Tata Consultancy Services (TCS) saw its valuation erode by ₹10,745.72 crore to ₹11,75,914.62 crore last week. Infosys's mcap also declined by ₹6,183.25 crore to touch ₹6,81,635.59 crore during this period. Finally, Bajaj Finance's valuation dropped by ₹5,693.58 crore reaching a total of ₹6,16,430.43 crore.