Mcap of four of top-10 most valued firms surges ₹1 lakh crore; LIC biggest gainer
Despite a generally weak performance in the equity market, the combined market capitalisation of four out of the ten most valuable companies rose by ₹ 1,01,369.5 crore last week, with Life Insurance Corporation of India (LIC) leading the gains.
The BSE benchmark index slipped by 270.07 points or 0.33% over the week.
Among the top 10 companies, HDFC Bank, Bharti Airtel, State Bank of India, and LIC saw increases in their market value. Meanwhile, Reliance Industries, Tata Consultancy Services (TCS), ICICI Bank, Infosys, Bajaj Finance, and Hindustan Unilever Ltd (HUL) experienced a total decline of ₹ 34,852.35 crore in their valuations.
LIC posted the largest gain, with its market cap soaring by ₹ 59,233.61 crore to reach ₹ 6,03,120.16 crore.
State Bank of India followed, adding ₹ 19,589.54 crore, taking its total valuation to ₹ 7,25,036.13 crore.
Bharti Airtel's market cap rose by ₹ 14,084.2 crore to ₹ 10,58,766.92 crore, while HDFC Bank gained ₹ 8,462.15 crore, reaching ₹ 14,89,185.62 crore.
On the downside, TCS saw the steepest drop, losing ₹ 17,909.53 crore to settle at ₹ 12,53,486.42 crore.
Reliance Industries lost ₹ 7,645.85 crore, bringing its valuation down to ₹ 19,22,693.71 crore.
Bajaj Finance declined by ₹ 4,061.05 crore to ₹ 5,70,146.49 crore, and ICICI Bank by ₹ 2,605.81 crore to ₹ 10,31,262.20 crore.
HUL shed ₹ 1,973.66 crore, now valued at ₹ 5,52,001.22 crore, while Infosys dipped by ₹ 656.45 crore to ₹ 6,49,220.46 crore.
In terms of overall market value, Reliance Industries remained the most valuable company, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, LIC, Bajaj Finance, and HUL.
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