The market cap of the top 10 companies climbed by ₹1.88 lakh crore cumulatively in the trading week that ended on June 30th. HDFC Bank witnessed the most rise in its market value as updates of the merger of NBFC giant HDFC lifted investors’ spirits in the stock. Further, tech majors like Tata Consultancy Services (TCS) and Infosys were also among the top 3 winners.
As per PTI, the combined market valuation of the top 10 most valued firms jumped ₹1.88 lakh crore last week.
Becoming the best performer last week, HDFC Bank’s market value jumped by ₹32,600.19 crore — totaling around ₹9,51,584.36 crore.
HDFC Bank has successfully merged HDFC under its ambit with effect from July 1, 2023. Further, as part of the merger, HDFC Bank will issue and allot to eligible shareholders 42 new equity shares of the face value of Re 1/- each, credited as fully paid-up, for every 25 equity shares of the face value of ₹2 each fully paid-up held by such shareholder in HDFC as on the Record Date i.e., July 13, 2023.
Going ahead, TCS’ market cap soared by ₹30,388.43 crore, totaling ₹12,07,669.91 crore by the end of June 30, 2023. Also, its peer Infosys witnessed an upside of ₹28,862.38 crore in market value to ₹5,54,091.27 crore.
Mukesh Ambani’s Reliance Industries also recorded a significant surge of ₹23,984.28 crore, taking its market value to ₹17,25,704.60 crore. Heavyweight RIL continues to be the largest firm in India in terms of market share.
Just like HDFC Bank, due to the merger updates, HDFC’s market cap also advanced by ₹19,050.56 crore to ₹5,22,368.64 crore. Further, leading public sector lender, State Bank of India (SBI) followed with market cap soaring by ₹16,153.55 crore to ₹16,153.55 crore.
Also, Bharti Airtel’s market cap zoomed by ₹12,353.29 crore to ₹4,90,063.76 crore, while ITC’s market value rose by ₹8,699.61 crore to ₹5,61,311.42 crore.
FMCG giant Hindustan Unilever’s market cap jumped by ₹8,517.26 crore to ₹6,29,314.52 crore, and that of ICICI Bank grew by ₹7,441.27 crore totaling to ₹6,53,704.04 crore.
Know your inner investor
Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.
Download The Mint News App to get Daily Market Updates.
Updated: 02 Jul 2023, 06:10 PM IST