Market cap of India's top 7 firms soars ₹2.1L crore
What's the story
The cumulative market capitalization of seven of the 10 most valued companies in India rose by ₹2,10,254.96 crore last week. The rally was spearheaded by two companies, namely Reliance Industries and Tata Consultancy Services (TCS). As for the stock indices, the BSE Sensex rose by 1,134.48 points or 1.55%, while the NSE Nifty jumped by 427.8 points or 1.93%.
Market leaders
Reliance Industries and TCS lead the market surge
Reliance Industries's market capitalization surged by ₹66,985.25 crore to hit ₹16,90,328.70 crore. TCS's market valuation also surged by ₹46,094.44 crore to reach ₹13,06,599.95 crore. The significant rise in TCS's valuation helped it reclaim the title of India's second most valued firm after Reliance Industries.
Others
SBI, Bharti Airtel, ITC see significant increases
State Bank of India (SBI) and Bharti Airtel also saw their m-cap jump significantly last week. SBI's market cap jumped ₹39,714.56 crore to ₹6,53,951.53 crore, while Bharti Airtel's m-cap rose ₹35,276.30 crore to ₹9,30,269.97 crore. ITC's market valuation jumped ₹11,425.77 crore to ₹5,05,293.34 crore during the same period.
Additional gains
Hindustan Unilever and ICICI Bank also see m-cap rise
While ICICI Bank's valuation jumped by ₹7,939.13 crore to ₹8,57,743.03 crore, Hindustan Unilever's m-cap rose by ₹2,819.51 crore to ₹5,17,802.92 crore last week. However, not all companies witnessed the same upward trend in their valuations during the period, as HDFC Bank and Bajaj Finance experienced a fall in their respective market capitalizations.