M-cap of 4 top-valued firms jumps ₹1L crore, LIC leads
What's the story
The combined market capitalization of the four top-10 companies increased by ₹1.01 lakh crore this week. The Life Insurance Corporation of India (LIC) was the biggest gainer during this period. LIC's market valuation increased by ₹59,233 crore to ₹6.03 lakh crore, the largest increase among the top 10 firms. This comes despite a decline in the BSE benchmark index, which fell 270 points or 0.33%.
Other gainers
SBI and HDFC Bank also see market valuation gains
Along with LIC, State Bank of India (SBI) and HDFC Bank also witnessed a jump in their market valuations. SBI's valuation increased by ₹19,589.54 crore to ₹7,25,036.13 crore while HDFC Bank's market capitalization climbed by ₹8,462.15 crore to ₹14,89,185.62 crore. Bharti Airtel also saw its market capitalization jump by ₹14,084.2 crore to ₹10,58,766.92 crore during this period.
Market losses
TCS and Reliance Industries face market valuation declines
On the flip side, Tata Consultancy Services (TCS) and Reliance Industries Ltd witnessed a decline in their market valuations. TCS's valuation fell by ₹17,909.53 crore to ₹12,53,486.42 crore while Reliance Industries's market capitalization tanked by ₹7,645.85 crore to ₹19,22,693.71 crore. Other companies that saw a decline include Bajaj Finance (down ₹4,061.05 crore to ₹5,70,146.49 crore), ICICI Bank (down ₹2,605.81 crore to ₹10,31,262.20 crore), Hindustan Unilever Ltd (down ₹1,973.66 crore to ₹5,52,001.22 crore), and Infosys (down ₹656.45 crore to ₹6,49,220.46 crore).