The Indian stock market witnessed a weak trend in the last week due to heavy selling in the largecaps.
In the last week, the combined market cap of six of the top 10 most valued companies eroded by Rs 1.55 lakh crore.
In the top 10, Reliance Industries (RIL), Bharti Airtel, ICICI Bank, ITC, Hindustan Unilever, and Life Insurance Corporation of India (LIC) were losers. Tata Consultancy Services (TCS), HDFC Bank, Infosys, and State Bank of India (SBI) were gainers.
The market cap...
RIL mcap decreases by Rs 74,000 crore; SBI, TCS, Infosys biggest gainers
Total market capitalisation of seven out of 10 companies has reduced by Rs 1,22,107 crore in the last week, with TCS and RIL losing the most.
During the trading session from October 7-11, the market capitalisation of Tata Group company Tata Consultancy Services (TCS) declined by Rs 35,638 crore to Rs 15,01,723 crore. The market cap of Reliance Industries (RIL) has declined by Rs 21,351 crore to Rs 18,55,366 crore.
FMCG major ITC experienced a decrease in its market cap by Rs 1...
Seven companies marketcap decreases by over Rs 1 lakh crore
Standalone businesses fuel operating performance
* Reliance Industries (RIL)’s 4QFY24 consolidated revenue, EBITDA, and PAT grew 11%, 11%, and remained flat YoY at INR2.4t, INR425b, and INR190b (8% miss, 10% beat, and 8% beat), respectively, led by growth across segments. EBITDA and PAT were above estimates primarily due to the growth in the O2C segment, which was partly offset by lower-thanestimated performance in the retail segment.
* RJio’s revenue/EBITDA/PAT increased 2...
Buy Reliance Industries Ltd For Target Rs. 3,245 By Motilal Oswal Financial Services
Standalone businesses fuel operating performance
* Reliance Industries (RIL)’s 4QFY24 consolidated revenue, EBITDA, and PAT grew 11%, 11%, and remained flat YoY at INR2.4t, INR425b, and INR190b (8% miss, 10% beat, and 8% beat), respectively, led by growth across segments. EBITDA and PAT were above estimates primarily due to the growth in the O2C segment, which was partly offset by lower-thanestimated performance in the retail segment.
* RJio’s revenue/EBITDA/PAT increased 2%...
Buy Reliance Industries Ltd. for Target Rs.3,245 By Motilal Oswal Financial Services
