Market cap of India's top 8 companies up ₹1.5L crore
What's the story
Eight of India's top 10 most valued companies saw a major jump in their combined market capitalization last week, adding ₹1.55 lakh crore to their valuation. The massive jump was mainly fueled by strong gains from HDFC Bank and Tata Consultancy Services (TCS). The jump came as equities saw a strong trend during the same period.
Leading contributors
HDFC Bank, TCS emerge as top gainers
HDFC Bank and TCS were the biggest contributors to this surge in market capitalization. HDFC Bank's market valuation jumped by ₹40,392.91 crore to ₹13,34,418.14 crore, marking the highest increase among the top 10 firms. Meanwhile, TCS added ₹36,036.15 crore to its valuation which now stands at an impressive ₹15,36,149.51 crore.
Market boost
Other firms also see significant valuation hikes
ICICI Bank and Infosys also saw their market valuations soar. ICICI Bank's valuation jumped ₹16,266.54 crore to ₹9,01,866.22 crore, while Infosys's market capitalization surged ₹16,189.33 crore to ₹7,90,151.83 crore. Hindustan Unilever and ITC also saw their market capitalizations jump ₹13,239.95 crore and ₹11,508.91 crore, respectively.
Valuation rise
Bharti Airtel, SBI join the surge
Bharti Airtel and State Bank of India (SBI) also participated in the market cap surge. Bharti Airtel's market cap rose by ₹11,260.11 crore to ₹8,94,068.84 crore, while SBI's valuation increased by ₹10,709.55 crore to ₹7,28,293.62 crore.
Market dip
LIC, Reliance Industries see dip in market capitalization
Despite the overall surge, two of India's top 10 most valued companies witnessed a dip in their market capitalization last week. Life Insurance Corporation of India (LIC) witnessed its valuation decline by ₹11,954.24 crore to ₹5,62,545.30 crore, while Reliance Industries's market cap dipped by ₹2,368.16 crore to stand at ₹17,13,130.75 crore. Despite the dip, Reliance Industries continues to be the most valued domestic firm followed by TCS and HDFC Bank.