Mcap of 8 most valued firms jumps by Rs 1.69 lakh crore amid market rally
The combined market value of eight of the country’s top-10 most valuable companies increased by Rs 1.69 lakh crore last week, in line with the positive trend on Dalal Street.
During the week, the BSE benchmark rose by 1,193.94 points, or 1.47 per cent, boosting investor sentiment.
Bajaj Finance turned out to be the biggest gainer among them. Among the top companies, HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys and Bajaj Finance saw growth in their valuations, while Hindustan Unilever and LIC’s market cap eroded during the week.
Bajaj Finance’s market value jumped by Rs 40,788.38 crore to reach Rs 6.24 lakh crore. Infosys added Rs 33,736.83 crore, taking its valuation to Rs 6.33 lakh crore.
Tata Consultancy Services (TCS) gained Rs 30,970.83 crore, pushing its market capitalisation to Rs 11.33 lakh crore.
State Bank of India’s valuation climbed by Rs 15,092.06 crore to Rs 7.59 lakh crore, while ICICI Bank’s value rose by Rs 10,644.91 crore to Rs 10.12 lakh crore.
HDFC Bank saw a smaller rise of Rs 6,141.63 crore, taking its valuation to Rs 14.84 lakh crore. Bharti Airtel’s market value increased by Rs 4,390.62 crore to Rs 10.85 lakh crore.
On the other hand, Hindustan Unilever’s market capitalisation fell by Rs 12,429.34 crore to Rs 6.06 lakh crore, while Life Insurance Corporation of India (LIC) lost Rs 1,454.75 crore, slipping to Rs 5.53 lakh crore.
At the end of the week, HDFC Bank remained among the most valued company, followed by TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Hindustan Unilever and LIC.
Meanwhile, the combined market valuation of seven of the top 10 most valued firms jumped Rs 1,06,250.95 crore for the week ended September 7.
Bajaj Finance was the biggest gainers for the same week as the BSE benchmark jumped 901.11 points, or 1.12 per cent.
