Reliance leads as India's major firms add ₹3.3T in m-cap
What's the story
The market valuation of nine out of the top 10 firms rose by ₹3.35 lakh crore this week, indicating a positive trend in equities. Reliance Industries spearheaded the rally with its market capitalization rising by ₹1.06 lakh crore to ₹19.7 lakh crore. Other major gainers included ICICI Bank, Tata Consultancy Services (TCS), Infosys, HDFC Bank, Bajaj Finance, State Bank of India (SBI), ITC, and Hindustan Unilever.
Valuation rise
ICICI Bank, TCS see significant valuation increase
ICICI Bank's valuation witnessed a massive jump from around ₹46,306 crore to hit ₹10.3 lakh crore last week. TCS contributed ₹43,688 crore to its market cap, taking it to ₹12.89 lakh crore. Infosys also witnessed a remarkable jump with its market cap increasing by ₹34,281 crore to reach ₹6.6 lakh crore during the same period.
Market surge
Other gainers in the market
HDFC Bank's m-cap got a major boost last week, rising by ₹34,029 crore to ₹14.8 lakh crore. Bajaj Finance's m-cap also increased by ₹32,730 crore to ₹5.69 lakh crore during the same period. ITC's m-cap rose by ₹15,142 crore to a new high of ₹5.4 lakh crore while SBI saw its m-cap rising by ₹11,111 crore to touch the ₹7 lakh crores mark last week.
Information
Bharti Airtel witnessed a decline
The only firm that didn't benefit from the positive trend was Bharti Airtel, whose market cap dipped by ₹19,330 crore to ₹10.3 lakh crore in the same period.