India's top 7 firms add ₹1.55L crore in market cap
What's the story
The combined market capitalization of seven out of the top 10 most valued companies in India surged by ₹1,55,710.74 crore last week. The jump came on the back of a positive trend in domestic equities and was led by Reliance Industries and Tata Consultancy Services (TCS). The BSE benchmark index also witnessed a rise of 259.69 points or 0.30% during this period.
Market leaders
Reliance, TCS lead the pack
Reliance Industries's market capitalization surged by ₹46,687.03 crore to ₹19,64,170.74 crore. TCS's m-cap also witnessed a jump of ₹36,126.6 crore to reach ₹11,08,021.21 crore during the same period. Other companies that contributed to this surge include Infosys (m-cap up by ₹34,938.51 crore), State Bank of India (up ₹13,892.07 crore), Bajaj Finance (up by ₹11,947.17 crore), Bharti Airtel (up ₹9,779.11 crore), and LIC (up by ₹2,340.25 crore).
Valuation dip
HDFC Bank, ICICI Bank, Hindustan Unilever see decline
Among the top 10 companies, HDFC Bank, ICICI Bank, and Hindustan Unilever witnessed a decline in their market valuations. The market cap of ICICI Bank fell by ₹43,744.59 crore to ₹9,82,746.76 crore, while that of Hindustan Unilever plunged by ₹20,523.68 crore to ₹5,91,486.10 crore during the same period. Market cap of HDFC Bank also declined by ₹11,983.68 crore to reach ₹15,28,227.10 crore last week.