Five of the top-10 most-valued Indian firms saw their market capitalization surge by a combined Rs 72,285 crore last week, despite flat benchmark indices.
TCS (Rs 35,910 crore gain) and Infosys (Rs 23,405 crore gain) were the largest winners, followed by Bajaj Finance, Bharti Airtel, and ICICI Bank.
The valuation of Reliance Industries faced the sharpest drop (Rs 35,117 crore), with HDFC Bank and SBI also recording declines.
Mcap of Five of Top-10 Most-Valued Firms Surges Rs 72,285 crore; TCS, Infosys Biggest Winners
TCS and Infosys lead the gainers as five of the top-10 firms added Rs 72,285 crore to their combined valuation, while Reliance and HDFC Bank saw erosion
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The combined market valuation of five of the top-10 most valued firms surged by Rs 72,284.74 crore last week, with Tata Consultancy Services (TCS) and Infosys emerging as the biggest winners.
While Bharti Airtel, TCS, ICICI Bank, Infosys and Bajaj Finance were the gainers, Reliance Industries, HDFC Bank, State Bank of India, Larsen & Toubro, and Life Insurance Corporation of India (LIC) faced erosion from their valuation.
Last week, the BSE benchmark eked out a marginal gain of 5.7 points, while the NSE Nifty dipped 16.5 points. TCS added Rs 35,909.52 crore, taking its market valuation to Rs 11,71,862.37 crore.
The market capitalisation (mcap) of Infosys jumped Rs 23,404.55 crore to Rs 6,71,366.53 crore. The valuation of Bajaj Finance climbed Rs 6,720.28 crore to Rs 6,52,396.39 crore and that of Bharti Airtel edged higher by Rs 3,791.9 crore to Rs 12,01,832.74 crore.
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The mcap of ICICI Bank went up Rs 2,458.49 crore to Rs 9,95,184.46 crore. However, the market valuation of Reliance Industries tumbled Rs 35,116.76 crore to Rs 20,85,218.71 crore. The mcap of LIC dropped by Rs 15,559.49 crore to Rs 5,50,021.80 crore.
The valuation of State Bank of India declined by Rs 7,522.96 crore to Rs 8,96,662.19 crore and that of HDFC Bank slid Rs 5,724.03 crore to Rs 15,43,019.64 crore. The mcap of Larsen & Toubro dipped by Rs 4,185.39 crore to Rs 5,55,459.56 crore.
Reliance Industries remained the most-valued domestic firm, followed by HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Larsen & Toubro and LIC.
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