Mumbai: A sharp rebound in the equity market last week propelled the combined market capitalisation of nine of the top-10 most valued Indian firms by Rs 2,34,565.53 crore. The BSE benchmark Sensex gained 1,650.73 points or 2 per cent over the week, reflecting broad-based buying interest.
Reliance Industries Tops the Gainer List
Reliance Industries emerged as the biggest contributor to the market cap gains, adding a whopping Rs 69,556.91 crore. Its valuation now stands at Rs 20,51,590.51 crore, helping it retain the top spot among India’s most valued companies.
Bharti Airtel, HDFC Bank Follow Close
Telecom major Bharti Airtel was the second biggest gainer with an increase of Rs 51,860.65 crore in its mcap, which reached Rs 11,56,329.94 crore. HDFC Bank added Rs 37,342.73 crore, taking its market valuation to Rs 15,44,624.52 crore, maintaining its second position in the rankings.
Financials Join the Uptrend
Among other major financial players, Bajaj Finance’s valuation jumped by Rs 26,037.88 crore to Rs 5,88,213.55 crore. ICICI Bank’s market cap increased by Rs 24,649.73 crore, reaching Rs 10,43,037.49 crore. Life Insurance Corporation of India (LIC) also saw a gain of Rs 13,250.87 crore, taking its mcap to Rs 6,05,523.65 crore.
Modest Gains for SBI, TCS, and HUL
State Bank of India’s valuation rose by Rs 8,389.15 crore to Rs 7,18,788.90 crore. Tata Consultancy Services (TCS) added Rs 3,183.91 crore to its mcap, now at Rs 12,45,761.80 crore. FMCG major Hindustan Unilever posted a marginal gain of Rs 293.7 crore, taking its valuation to Rs 5,41,850.99 crore.
Infosys the Only Laggard
In contrast to the upbeat market, Infosys was the lone loser in the elite club, with its mcap falling by Rs 5,494.8 crore to Rs 6,68,256.29 crore.
Updated Ranking
The updated pecking order by valuation: Reliance Industries, HDFC Bank, TCS, Bharti Airtel, ICICI Bank, SBI, Infosys, LIC, Bajaj Finance, and Hindustan Unilever.
(With PTI Inputs)
