TCS, Infosys lead gains as 6 top firms add ₹75,000cr
What's the story
The combined market capitalization of six out of the top 10 most valued companies in India rose by ₹75,256.97 crore last week. The rise was led by Tata Consultancy Services (TCS) and Infosys. Despite a decline in the BSE benchmark index by 338.3 points or 0.39%, these companies managed to increase their valuations significantly during the period under review.
Market leaders
Biggest market cap gainers
TCS's market capitalization surged by ₹22,594.96 crore to ₹11,87,673.41 crore last week. Infosys also witnessed a significant jump in its valuation by ₹16,971.64 crore, taking it to ₹6,81,192.22 crore. The State Bank of India (SBI) saw its market cap rise by ₹15,922.81 crore to reach a total of ₹9,04,738.98 crore during this period under review.
Other gainers
Reliance, Bharti Airtel and L&T's market cap rises
Reliance Industries's market cap also saw a marginal increase of ₹12,314.55 crore to ₹21,17,967.29 crore last week. Bharti Airtel's valuation advanced by ₹7,384.23 crore to reach a total of ₹11,95,332.34 crore during this period under review. The market capitalization of Larsen & Toubro (L&T) went up slightly by ₹68.78 crore to reach ₹5,60,439.16 crore last week despite the overall decline in the BSE benchmark index by 338.3 points or 0.39%.
Market losers
HDFC Bank and LIC's market cap declines
On the other hand, HDFC Bank's market capitalization fell by ₹21,920.08 crore to ₹15,16,638.63 crore last week. Life Insurance Corporation of India (LIC) also saw a decline in its valuation by ₹9,614 crore to reach a total of ₹5,39,206.05 crore during this period under review. ICICI Bank's market cap declined by ₹8,427.61 crore while Bajaj Finance's dipped by ₹5,880.25 crore last week despite the overall decline in the BSE benchmark index by 338.3 points or 0.39%.