TCS leads ₹1.5L crore gain among top-10 firms
What's the story
The combined market capitalization of five out of India's top 10 most valued companies rose by a whopping ₹1.54 lakh crore last week. The IT giant Tata Consultancy Services (TCS) was the biggest gainer, contributing significantly to this increase. The rise in market valuation comes amid a positive trend in equities and strong Q1 FY27 earnings from the IT sector.
Market gains
TCS tops the list
TCS's market valuation surged by ₹72,072.3 crore last week to ₹8,20,672.70 crore.
This was after the company reported a 4.61% increase in its June-quarter net profit to ₹13,349 crore and guided toward an improvement in demand despite the West Asia crisis.
The company's strong performance was a major contributor to the overall rise in market capitalization among India's top firms last week.
Other gainers
ICICI Bank and Reliance Industries follow suit
Along with TCS, ICICI Bank and Reliance Industries also witnessed a surge in their market valuations.
ICICI Bank's valuation jumped by ₹29,062.06 crore to ₹10,34,441.77 crore while Reliance Industries's valuation soared by ₹23,884.93 crore to ₹17,95,091.26 crore.
These increases were instrumental in driving the overall rise in market capitalization among India's top firms last week.
Information
Bajaj Finance and SBI also gained
Bajaj Finance and the State Bank of India (SBI) also saw their market valuations increase last week. Bajaj Finance's valuation rose by ₹21,946.5 crore to ₹6,57,274.28 crore while SBI's valuation increased by ₹7,338.34 crore to ₹9,63,768.78 crore.
Market downturns
HDFC Bank, Bharti Airtel see decline
On the contrary, HDFC Bank, Bharti Airtel, Life Insurance Corporation of India (LIC), Larsen & Toubro, and Hindustan Unilever saw a decline in their market valuations last week.
The market capitalization of HDFC Bank fell by ₹7,084.61 crore to ₹12,62,369.81 crore while that of Bharti Airtel tumbled by ₹7,706.45 crore to ₹11,91,067.77 crore.
These declines were a notable contrast to the overall rise in market capitalization among India's top firms during this period.