Market cap of India's top 5 firms up ₹72,285cr
What's the story
The combined market capitalization of five out of the top 10 most-valued companies in India increased by ₹72,284.74 crore last week. Tata Consultancy Services (TCS) and Infosys were the biggest gainers during this period. The BSE benchmark index gained marginally by 5.7 points, while the Nifty fell by 16.5 points last week.
Market leaders
TCS and Infosys lead market cap gains
TCS's market capitalization increased by ₹35,909.52 crore to ₹11,71,862.37 crore. Infosys also witnessed a significant jump in its market cap by ₹23,404.55 crore to reach ₹6,71,366.53 crore last week. Bajaj Finance's valuation rose by ₹6,720.28 crore, while Bharti Airtel's market cap edged higher by ₹3,791.9 crore during the same period.
Banking gains
ICICI Bank's market cap also rises
The market capitalization of ICICI Bank also witnessed a rise last week, going up by ₹2,458.49 crore to ₹9,95,184.46 crore. However, not all companies in the top 10 list were able to maintain their valuations during this period. Reliance Industries saw its market valuation drop by ₹35,116.76 crore to ₹20,85,218.71 crore last week.
Valuation decline
Other firms witness market cap erosion
Along with Reliance Industries, other companies such as Life Insurance Corporation of India (LIC), State Bank of India (SBI), HDFC Bank, and Larsen & Toubro also witnessed a fall in their market valuations. LIC's valuation dropped by ₹15,559.49 crore to ₹5,50,021.80 crore, while SBI's valuation declined by ₹7,522.96 crore to ₹8,96,662.19 crore during the same period last week.