The 10 mosted valued companies added a whopping Rs 2.72 lakh crore to their market valuation last week, as the domestic equity benchmarks witnessed heavy buying tracking an overall bullish trend in global equities.
The benchmark indices made strong gains in the holiday-truncated week. The 30-share BSE Sensex climbed 2,313.63 points or 4.16 per cent, while the NSE Nifty advanced 656.60 points or 3.95 per cent. Mirroring the bullish trend in the broader market, the combined market capitalisation (m-cap) of the country's top-10 firms zoomed by Rs 2,72,184.67 crore during last week.
Corporate major Reliance Industries' m-cap swelled by Rs 54,904.27 crore to Rs 16,77,447.33 crore. IT bellwethers TCS and Infosys Technologies together added Rs 41,058.98 crore to their market valuations.
The market valuation of Tata Consultancy Services (TCS) climbed Rs 27,557.93 crore to Rs 13,59,475.36 crore while the valuation of Infosys jumped Rs 13,501.05 crore to reach Rs 7,79,948.32 crore.
The country's top lenders HDFC Bank, ICICI Bank and SBI saw a sharp jump in their market valuations. HDFC Bank's valuation rose by Rs 46,283.99 crore to Rs 8,20,747.17 crore. The m-cap of State Bank of India (SBI) climbed by Rs 27,978.65 crore to Rs 4,47,792.38 crore and that of ICICI Bank advanced by Rs 29,127.31 crore to reach Rs 5,00,174.83 crore.
The valuation of Hindustan Unilever Ltd (HUL) surged by Rs 1,703.45 crore to Rs 4,93,907.58 crore and that of Bajaj Finance increased by Rs 22,311.87 crore to Rs 4,22,325.91 crore.
HDFC's valuation rose by Rs 33,438.47 crore to Rs 4,37,859.67 crore.
Telecom major Bharti Airtel also witnessed a rise of Rs 15,377.68 crore to its market valuation which stood at Rs 3,96,963.73 crore. In the ranking of top-10 firms, Reliance Industries was leading the chart, followed by Tata Consultancy Services, HDFC Bank, Infosys, ICICI Bank, Hindustan Unilever, State Bank of India, HDFC, Bajaj Finance and Bharti Airtel.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU