M-cap of 8 top firms gains ₹1.9L crore, TCS leads
What's the story
The combined market capitalization of eight out of the top 10 most valued companies in India surged by ₹1.94 lakh crore last week. Tata Consultancy Services (TCS) was the biggest gainer during this period. The spike in valuations comes amid a positive trend on Dalal Street, with the BSE benchmark rising 1,293.65 points or 1.59%.
Valuation boost
Top 3 gainers
TCS's market capitalization jumped by ₹45,678.35 crore last week, taking its total market value to ₹10,95,701.62 crore. Infosys and HDFC Bank also saw significant gains in their valuations during this period. Infosys's valuation rose by ₹28,125.29 crore to ₹6,29,080.22 crore while HDFC Bank's surged by ₹25,135.62 crore to reach a total of ₹15,07,025.19 crore in market capitalization (mcap).
Market movers
Bharti Airtel, Reliance Industries also gained
Bharti Airtel and Reliance Industries also witnessed a jump in their market valuations last week. Bharti Airtel's valuation surged by ₹25,089.27 crore to ₹11,05,980.35 crore, while Reliance Industries's mcap climbed by ₹25,035.08 crore to reach a total of ₹18,70,120.06 crore. The market capitalization of Bajaj Finance rallied by ₹21,187.56 crore to ₹6,36,995.74 crore during this period as well.
Banking gains
SBI, ICICI Bank also saw an uptick
The State Bank of India (SBI)'s market capitalization edged higher by ₹12,645.94 crore to ₹8,12,986.64 crore last week. ICICI Bank's valuation also witnessed an uptick of ₹11,251.62 crore, taking its total market value to ₹9,86,367.47 crore during this period. These gains further contributed to the overall rise in the combined mcap of eight out of the top 10 most valued firms in India last week.
Valuation dip
Two companies witness a dip
Despite the overall increase in market valuations, two companies from the top 10 pack, Hindustan Unilever and Life Insurance Corporation of India (LIC), witnessed a dip in their respective market valuations last week. LIC's mcap eroded by ₹4,648.88 crore to ₹5,67,858.29 crore, while Hindustan Unilever's valuation declined by ₹3,571.37 crore to ₹5,94,235.13 crore during this period.