Mcap of 7 of top-10 most valued firms climb ₹65,302 crore
The combined market valuation of India’s top 10 companies rose by a significant ₹65,302.5 crore last week, mirroring the upward trend in the broader market. This positive sentiment was driven by gains in seven of the top 10 most valuable firms, with Tata Consultancy Services (TCS) and ICICI Bank leading the pack.
The Indian stock market continued its upward trend last week, with the benchmark Sensex index rising by 0.90 per cent and the Nifty index gaining 0.74 per cent. However, this news wouldn’t be directly related to the separate development of the leading stock exchanges conducting a special trading session to test their preparedness for potential disruptions. This session was aimed at ensuring the smooth functioning of the markets in case of any major issue at the primary site.
From the top-10 pack, TCS, HDFC Bank, ICICI Bank, State Bank of India, Bharti Airtel, Hindustan Unilever and ITC were the gainers, while Reliance Industries, Infosys and Life Insurance Corporation of India (LICI) faced erosion from their market capitalisation (mcap).
The market valuation of TCS climbed ₹19,881.39 crore to ₹14,85,912.36 crore.
ICICI Bank added ₹15,672.82 crore, taking its valuation to ₹7,60,481.54 crore.
The market valuation of State Bank of India jumped ₹12,182.1 crore to ₹6,89,917.13 crore, and that of HDFC Bank rallied ₹7,178.03 crore to ₹10,86,464.53 crore.
The mcap of Hindustan Unilever went up by ₹5,051.63 crore to ₹5,67,626.01 crore, and that of Bharti Airtel climbed ₹4,525.14 crore to ₹6,38,721.77 crore.
The valuation of ITC increased by ₹811.39 crore to ₹5,14,451.76 crore.
However, LIC’s mcap eroded by ₹19,892.12 crore to ₹6,54,763.76 crore.
The market valuation of Infosys declined by ₹9,048.17 crore to ₹6,86,997.15 crore, and that of Reliance Industries dipped ₹3,720.44 crore to ₹20,16,750.44 crore.
In the ranking of the most valued companies, Reliance Industries continued to lead the pack, followed by TCS, HDFC Bank, ICICI Bank, State Bank of India, Infosys, LIC, Bharti Airtel, Hindustan Unilever and ITC.
(With Inputs from PTI)
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Published: 03 Mar 2024, 10:47 AM IST
