Top 9 Indian firms add ₹95,522 crore to market valuation
What's the story
Nine of India's top 10 most valued firms witnessed a significant increase in their combined market valuation last week. The total surge amounted to ₹95,522.81 crore with Reliance Industries, Tata Consultancy Services (TCS), and Hindustan Unilever (HUL) leading the pack. This financial growth was observed as the BSE Sensex concluded its fourth consecutive session on a high note at 81,086.21 points on Friday.
Market leaders
Reliance Industries leads valuation surge
Reliance Industries spearheaded the market valuation surge with an increase of ₹29,634.27 crore, taking its total to ₹20,29,710.68 crore. TCS followed closely behind with a rise of ₹17,167.83 crore in its valuation, which now stands at ₹16,15,114.27 crore. HUL also made significant gains with an increase of ₹15,225.36 crore in its market capitalization, reaching a total of ₹6,61,151.49 crore last week.
Other gainers
Airtel and ICICI Bank see substantial gains
Bharti Airtel and ICICI Bank also experienced significant increases in their market capitalizations last week. Airtel's valuation rose by ₹12,268.39 crore to a total of ₹8,57,392.26 crore, while ICICI Bank saw an increase of ₹11,524.92 crore in its market cap which stands at ₹8,47,640.11 crore.
Additional contributors
ITC, SBI, LIC, and Infosys add to market valuation
ITC's market cap rose by ₹3,965.14 crore to a total of ₹6,32,364.24 crore last week. State Bank of India (SBI) also contributed to the overall increase, with an addition of ₹2,498.89 crore in its valuation reaching a total of ₹7,27,578.99 crore. Life Insurance Corporation of India (LIC) saw its market cap jump by ₹1,992.37 crore, while Infosys added ₹1,245.64 crore to its valuation which now stands at ₹7,73,269.13 crore last week.
Market dip
HDFC Bank experiences a dip
In contrast to the overall trend, HDFC Bank experienced a decrease in its market cap last week. The bank's valuation dipped by ₹4,835.34 crore to a total of ₹12,38,606.19 crore. Meanwhile, Reliance Industries managed to retain its position as the most valued firm followed by TCS and HDFC Bank. Other companies on the list include Bharti Airtel, ICICI Bank, and Infosys.