8 most-valued Indian firms add ₹1.69L crore in market capitalization
What's the story
The combined market capitalization of eight out of the top 10 most valued companies in India rose by ₹1.69 lakh crore last week. The surge was led by Bajaj Finance, which saw its valuation jump by a whopping ₹40,788 crore, now standing at ₹6,24,239.65 crore. The rally came on the back of a positive trend on Dalal Street and a strong performance from other major players such as Reliance Industries and Tata Consultancy Services (TCS).
Market surge
Infosys, TCS, and Reliance Industries also witness significant gains
Infosys also saw a significant increase in its valuation by ₹33,736.83 crore to reach ₹6,33,773.30 crore. TCS's market capitalization surged by ₹30,970.83 crore to ₹11,33,926.72 crore. Meanwhile, Reliance Industries witnessed a jump of ₹27,741.57 crore, which took its total value to an impressive ₹18,87,509.28 crore on Dalal Street last week.
Banking sector
Banks and telecom giant's market valuation surge
The State Bank of India (SBI)'s market valuation rose by ₹15,092.06 crore to ₹7,59,956.75 crore. Similarly, ICICI Bank's valuation also witnessed a jump of ₹10,644.91 crore to reach ₹10,12,362.33 crore last week. HDFC Bank's market capitalization edged higher by ₹6,141.63 crore, while Bharti Airtel's went up by ₹4,390.62 crore during the same period, in line with other top firms.
Valuation drop
HUL and LIC's market capitalization declined last week
Despite the overall market surge, Hindustan Unilever and Life Insurance Corporation of India (LIC) witnessed a decline in their market valuations. Hindustan Unilever's valuation dropped by ₹12,429.34 crore to ₹6,06,265.03 crore, while LIC's mcap declined by ₹1,454.75 crore to reach ₹5,53,152.67 crore last week despite the overall positive trend among other top companies.