M-Cap: Five of top 10 firms gain ₹1.99 lakh crore, RIL leads list
Last week witnessed a positive trend in the market, with the BSE benchmark surging 542.3 points or 0.75 percent. Five out of the top 10 most-valued firms collectively gained ₹1,99,111.06 crore in market valuation, buoyed by bullish sentiments.
Reliance Industries (RIL) retained its position as the most-valued firm, followed by Tata Consultancy Services (TCS) , HDFC Bank, ICICI Bank, Infosys, Bharti Airtel, Hindustan Unilever (HUL), ITC, State Bank of India (SBI), and the Life Insurance Corporation of India (LIC).
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Reliance Industries Takes the Lead
RIL emerged as the biggest gainer, adding ₹90,220.4 crore to attain a market valuation of ₹18,53,865.17 crore. And TCS followed suit, experiencing a significant jump of ₹52,672.04 crore, reaching a market valuation of ₹14,20,333.97 crore. This surge was supported by the IT major’s 8.2 percent growth in net income for the December quarter, standing at ₹11,735 crore.
Further, ICICI Bank’s market capitalisation (mcap) rallied by ₹6,852.65 crore to ₹7,04,210.07 crore; Infosys witnessed a rise of ₹32,913.04 crore in market valuation, reaching ₹6,69,135.15 crore; and Bharti Airtel’s mcap surged by ₹16,452.93 crore, totaling ₹6,05,299.02 crore.
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Laggards in the Top 10
While the gainers thrived, some firms faced a combined setback of ₹76,098.67 crore. HDFC Bank, HUL, ITC, SBI, and LIC experienced a decline in their market valuations.
HDFC Bank’s mcap eroded by ₹32,609.73 crore, settling at ₹12,44,825.83 crore. This was followed by HUL, whose valuation tumbled by ₹17,633.68 crore, standing at ₹5,98,029.72 crore. Further, LIC’s mcap fell by ₹9,519.13 crore, reaching ₹5,24,563.68 crore; ITC experienced a decline of ₹9,107.19 crore in mcap, settling at ₹5,82,111.90 crore.; and SBI’s valuation dipped by ₹7,228.94 crore, reaching ₹5,65,597.28 crore.
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Published: 14 Jan 2024, 01:13 PM IST
