The combined market valuation of eight of the top ten most valued firms in India surged by Rs 1,21,270.83 crore last week, driven by a strong rally in benchmark equity indices. Reliance Industries emerged as the biggest gainer during this period.
Last week, the BSE benchmark index rose by 1,027.54 points, or 1.21%, reaching a record high of 85,978.25 on Friday. Reliance Industries saw its market valuation increase by Rs 53,652.92 crore, bringing its total to Rs 20,65,197.60 crore.
State Bank of India added Rs 18,518.57 crore to reach a valuation of Rs 7,16,333.98 crore. Bharti Airtel’s market cap rose by Rs 13,094.52 crore to Rs 9,87,904.63 crore, while ITC gained Rs 9,927.30 crore, bringing its valuation to Rs 6,53,834.72 crore.
Tata Consultancy Services (TCS) saw an increase of Rs 8,592.96 crore, raising its market cap to Rs 15,59,052 crore. HDFC Bank’s valuation climbed by Rs 8,581.64 crore to Rs 13,37,186.93 crore, and Life Insurance Corporation of India (LIC) jumped by Rs 8,443.87 crore to Rs 6,47,616.51 crore.
Infosys added Rs 459.05 crore to its market cap, which now stands at Rs 7,91,897.44 crore. However, ICICI Bank’s market valuation fell by Rs 23,706.16 crore to Rs 9,20,520.72 crore, and Hindustan Unilever’s declined by Rs 3,195.44 crore to Rs 6,96,888.77 crore.
In the ranking of the most valued firms, Reliance Industries remains at the top, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, Hindustan Unilever, ITC, and LIC.
(With PTI inputs)