The combined market capitalisation of seven of the top 10 most valued companies surged by Rs 1.83 lakh crore last week, with Hindustan Unilever emerging as the biggest gainer.
During the week, the BSE benchmark rose by 1,315.5 points, or 1.72%, while the Nifty gained 389.95 points, or 1.68%. Equity markets remained open on Saturday for the presentation of the Union Budget.
Among the gainers, Hindustan Unilever saw its market cap increase by Rs 32,471.36 crore, reaching Rs 5,89,066.03 crore. ICICI Bank followed with a rise of Rs 32,302.56 crore, bringing its valuation to Rs 8,86,247.75 crore. HDFC Bank added Rs 30,822.71 crore to its valuation, which stood at Rs 12,92,450.60 crore, and ITC’s market cap soared by Rs 26,212.04 crore to Rs 5,78,604.05 crore.
Other gainers included Reliance Industries, whose valuation grew by Rs 25,373.2 crore to Rs 17,11,371.54 crore, and State Bank of India, which gained Rs 19,411.05 crore, bringing its market cap to Rs 6,83,715.14 crore. Life Insurance Corporation of India’s valuation rose by Rs 16,729.62 crore, reaching Rs 5,36,201.68 crore.
However, Tata Consultancy Services (TCS), Bharti Airtel, and Infosys saw declines in their market caps. TCS experienced a drop of Rs 28,058.27 crore, bringing its valuation down to Rs 14,73,918.40 crore, while Bharti Airtel’s market cap decreased by Rs 11,211.96 crore to Rs 9,25,201.90 crore. Infosys’ valuation fell by Rs 9,653 crore to Rs 7,68,959.76 crore.
Reliance Industries remained the most valued firm, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, Hindustan Unilever, ITC, and LIC.