Market cap of India's top 8 firms up ₹1.9L crore
What's the story
The combined market capitalization of eight out of India's top 10 most valuable companies surged by ₹1.90 lakh crore last week. The major contributor to this growth was a stellar performance from ICICI Bank, which saw its market cap rise by ₹56,223 crore to ₹9.61 lakh crore. The surge in domestic equities also played a key role in this impressive growth.
Market gains
HDFC Bank and SBI among other top gainers
Other top gainers included HDFC Bank, SBI, Bajaj Finance, Bharti Airtel, L&T and Hindustan Unilever. HDFC Bank's market cap rose by ₹38,571 crore to ₹11.89 lakh crore, while SBI's market value increased by ₹36,138 crore to ₹9.39 lakh crore. Bajaj Finance's valuation grew by ₹18,367 crore to ₹5.72 lakh crore and Bharti Airtel added a whopping ₹14,380 crore to reach a valuation of over ₹11 lakh crore.
Valuation rise
L&T, HUL also witnessed growth
Larsen & Toubro's market capitalization rose by ₹13,241 crore to touch ₹5.57 lakh crore, while Hindustan Unilever gained ₹10,984 crore for a valuation of over ₹5 lakh crore. Reliance Industries also saw a marginal gain of ₹2,098 crore in its valuation which now stands at a whopping ₹17.49 lakh crore.
Market dip
TCS and LIC face losses
Tata Consultancy Services (TCS) witnessed a decline of ₹13,296 crore in its market value, taking its capitalization down to ₹7.82 lakh crore. Life Insurance Corporation of India (LIC) also saw a dip with its valuation declining by ₹822 crore to ₹5.05 lakh crore.