Six of top-10 firms add Rs 98,502 crore in m-cap; TCS biggest gainer

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Updated: April 21, 2019 10:31:45 AM

Reliance Industries Limited (RIL), HDFC Bank, HUL, Kotak Mahindra Bank and ICICI Bank were the other gainers, while ITC, HDFC, Infosys and SBI suffered losses in their market valuation for the week ended Thursday.

TCS, TCS stock, ICICI bank, HDFC , Infosys, Kotak Mahindra Bank, sbi, Stock marketsShares of TCS have been on a gaining spree after the company reported 17.7 per cent growth in consolidated net profit for the March 2019 quarter.

The combined market capitalisation of six of the 10 most valued Indian firms swelled by Rs 98,502.47 crore last week, with IT major Tata Consultancy Services (TCS) emerging as the biggest gainer. Reliance Industries Limited (RIL), HDFC Bank, HUL, Kotak Mahindra Bank and ICICI Bank were the other gainers, while ITC, HDFC, Infosys and SBI suffered losses in their market valuation for the week ended Thursday. Stock markets were closed Wednesday and Friday on account of ‘Mahavir Jayanti’ and ‘Good Friday’, respectively.

During the holiday-shortened last week, the Sensex rose 373.17 points, or 0.96 per cent to close at 39,140.28 on Thursday. The market capitalisation (m-cap) of TCS zoomed Rs 49,437.67 crore to Rs 8,05,074.14 crore. Shares of TCS have been on a gaining spree after the company reported 17.7 per cent growth in consolidated net profit for the March 2019 quarter.

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RIL’s m-cap jumped Rs 25,957.18 crore to Rs 8,76,585.81 crore and that of HDFC Bank advanced Rs 6,808.26 crore to Rs 6,23,678.06 crore. The valuation of ICICI Bank climbed Rs 6,739.51 crore to Rs 2,61,018.37 crore and Kotak Mahindra Bank gained Rs 5,966.44 crore to reach Rs 2,62,789.40 crore. HUL’s m-cap rose by Rs 3,593.41 crore to Rs 3,76,106.57 crore.

On the other hand, Infosys witnessed an erosion of Rs 13,740.3 crore in its market valuation to stand at Rs 3,12,990.25 crore. SBI’s valuation fell by Rs 3,926.83 crore to Rs 2,77,466.17 crore and that of HDFC slipped Rs 3,847.41 crore to Rs 3,44,958.84 crore. The m-cap of ITC dropped Rs 1,532.33 crore to Rs 3,73,091.45 crore. In the ranking of top-10 firms, RIL was at the number one position, followed by TCS, HDFC Bank, Hindustan Unilever Limited (HUL), ITC, HDFC, Infosys, SBI, Kotak Mahindra Bank and ICICI Bank.

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