Five of top-10 most valued firms add ₹4.23 lakh crore in m-cap; check top gainers, losers
Five of the top-10 most valued domestic companies together added ₹4,23,014.4 crore in market valuation last week, with major contributions coming in from HDFC Bank, which recently completed the merger with its mortgage financier parent HDFC.
Last week, the BSE benchmark jumped 623.36 points or 0.94%. The 30-share BSE index slided 887.64 points or 1.31% down to settle at 66,684.26 on Friday.
While HDFC Bank, ICICI Bank, ITC, State Bank of India and Bajaj Finance were the gainers, Reliance, Tata Consultancy Services (TCS), Hindustan Unilever, Infosys and Bharti Airtel suffered erosion from their market valuation last week.
HDFC Bank’s market valuation jumped ₹3,43,107.78 crore to reach ₹12,63,070.52 crore.
The market capitalisation (mcap) of State Bank of India (SBI) zoomed ₹27,220.07 crore to ₹5,48,819.01 crore, and that of ICICI Bank jumped ₹24,575.78 crore to ₹6,97,413.50 crore. The Tata Consultancy Services (ITC) added ₹21,972.81crore, to take its market valuation at ₹6,09,924.24 crore.
The market capitalization of Bajaj Finance climbed ₹6,137.96 crore to ₹4,59,425.99 crore.
However, the Reliance Industries faced an erosion by ₹1,37,138.56 crore to face a market value of ₹17,15,895.17 crore. Reliance announced the demerger of its financial services undertaking into RSIL (Reliance Strategic Investments Ltd), which was renamed JFSL (Jio Financial Services Ltd).
NSE and BSE conducted a special pre-open session for Reliance Industries Ltd on Thursday on account of the demerger of its financial services business Reliance Strategic Investments Ltd.
Meanwhile, the market capitalization of TCS eroded by ₹52,104.89 crore to ₹12,32,953.95 crore.
Infosys market valuation declined by ₹39,406.08 crore to ₹5,52,141.59 crore. Infosys shares tanked over 8% on Friday after the company reported a lower-than-expected 11% rise in net profit for the June quarter and slashed its FY24 growth outlook.
The market capitalization of Hindustan Unilever went lower by ₹17,163.77 crore to ₹6,11,786.57 crore. Bharti Airtel eroded ₹390.94 crore to register a market value of ₹4,94,726 crore.
In the ranking of top-10 firms, Reliance remained the most valued company, followed by HDFC Bank, TCS, ICICI Bank, Hindustan Unilever, ITC, Infosys, State Bank of India, Bharti Airtel and Bajaj Finance.
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Updated: 23 Jul 2023, 07:14 PM IST
