Eight of the 10 most valued Indian firms together added Rs 1.69 lakh crore in market capitalisation last week, led by Tata Consultancy Services (TCS) and SBI.
Eight of the 10 most valued Indian firms together added Rs 1.69 lakh crore in market capitalisation last week, led by Tata Consultancy Services (TCS) and SBI. A strong broader market drove the market capitalisation (m-cap) of the eight blue-chip firms, including ICICI Bank, HDFC and RIL, higher by Rs 1,69,865.11 crore for the week ended Friday. Last week, the Sensex surged 1,662.34 points or 5 per cent to close at 35,011.65.
TCS, the most valued Indian firm, witnessed its market valuation soar by Rs 41,351.28 crore to Rs 7,16,630.43 crore. The market cap of State Bank of India (SBI) zoomed Rs 33,333.33 crore to Rs 2,54,752.35 crore. ICICI Bank’s valuation advanced by Rs 25,271.12 crore to Rs 2,28,030.59 crore and that of HDFC rose sharply by Rs 20,763.9 crore to Rs 3,12,970.02 crore.
The m-cap of Reliance Industries Ltd (RIL) surged Rs 18,730.2 crore to Rs 6,80,910.61 crore and that of Hindustan Unilever Ltd (HUL) jumped Rs 15,834.4 crore to Rs 3,53,617.05 crore. Infosys added Rs 12,471.8 crore to reach Rs 2,89,209.72 crore in valuation and ITC gained Rs 2,109.1 crore to stand at Rs 3,45,701.22 crore.
On the other hand, Kotak Mahindra Bank’s m-cap declined Rs 4,910.8 crore to Rs 2,16,133.97 crore and that of HDFC Bank fell by Rs 4,171.8 crore to Rs 5,29,122.57 crore. In the ranking of the top-10 firms, TCS held on to the number one spot, followed by RIL, HDFC Bank, HUL, ITC, HDFC, Infosys, SBI, ICICI Bank and Kotak Mahindra Bank.