Market cap of India's top 9 firms up ₹2.51L crore
What's the story
The combined market capitalization of nine out of the top 10 most-valued companies in India surged by a whopping ₹2.51 lakh crore last week. The rally was led by Bajaj Finance, which alone contributed over ₹80,000 crore to its market cap after reporting strong quarterly results. The spike in valuations comes amid a positive trend in equities and easing crude oil prices.
Market surge
Bajaj Finance tops the list
Bajaj Finance's market capitalization jumped by ₹80,345.97 crore to ₹7,10,817.51 crore last week. This was the highest increase among the top 10 companies.
The surge came after the non-banking financial company (NBFC) reported a 28% year-on-year growth in its consolidated profit after tax (PAT) for Q1 FY27.
The company's shares also rose over 8% on Friday following this announcement.
Valuation boosts
Airtel, TCS, and RIL follow suit
Other companies in the top 10 bracket also witnessed a surge in their market valuations.
Bharti Airtel's valuation jumped by ₹44,959.5 crore to ₹12,30,005.63 crore, while Tata Consultancy Services (TCS) saw its market cap rise by ₹40,414.03 crore to ₹8,55,894.78 crore.
Reliance Industries's valuation climbed by ₹39,447.35 crore to ₹17,69,108.79 crore during the same period.
Financial giants
Other financial behemoths also see gains
The market capitalization of other financial giants also witnessed an uptick.
State Bank of India's (SBI) market cap increased by ₹10,845.97 crore to ₹9,47,799.81 crore last week.
HDFC Bank's m-cap rose by ₹8,164.73 crore to ₹11,52,150.63 crore during the same period.
Life Insurance Corporation (LIC) and ICICI Bank also saw their valuations rise by ₹4,427.49 crore and ₹1,660.37 crore, respectively.
Market dip
HUL only firm to witness decline last week
Among the top 10 companies, Hindustan Unilever was the only one to witness a decline in its market capitalization. The company's m-cap fell by ₹10,326.46 crore to ₹4,93,602.13 crore last week.