Key Takeaways
- Seven of India’s top 10 firms gained Rs 1.55 lakh crore in market value last week
- Reliance Industries and TCS were the biggest gainers
- HDFC Bank, ICICI Bank, and Hindustan Unilever saw valuation erosion
Seven of India’s top 10 most valued companies witnessed a massive Rs 1.55 lakh crore surge in combined market valuation last week, with Reliance Industries and Tata Consultancy Services emerging as the biggest beneficiaries. The gains came amid a generally positive trend in domestic equities, though the market rally paused on Friday.
Winners and Losers
The gainers included Reliance Industries, Bharti Airtel, Tata Consultancy Services (TCS), State Bank of India, Bajaj Finance, Infosys, and Life Insurance Corporation of India (LIC). On the losing side, HDFC Bank, ICICI Bank, and Hindustan Unilever experienced valuation erosion.
In terms of market ranking, Reliance Industries maintained its position as India’s most valued company, followed by HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Bajaj Finance, Infosys, Hindustan Unilever, and LIC.
Individual Company Performance
Reliance Industries added Rs 46,687.03 crore, reaching a market valuation of Rs 19,64,170.74 crore.
TCS saw its market capitalisation jump by Rs 36,126.6 crore to Rs 11,08,021.21 crore.
Infosys surged by Rs 34,938.51 crore to Rs 6,33,712.38 crore.
State Bank of India climbed by Rs 13,892.07 crore to Rs 8,34,817.05 crore.
Bajaj Finance edged higher by Rs 11,947.17 crore to Rs 6,77,846.36 crore.
Bharti Airtel rose by Rs 9,779.11 crore to Rs 11,57,014.19 crore.
LIC added Rs 2,340.25 crore, taking its valuation to Rs 5,62,513.67 crore.
Valuation Erosion
Among the losers, ICICI Bank saw the most significant erosion of Rs 43,744.59 crore, bringing its mcap to Rs 9,82,746.76 crore.
Hindustan Unilever dived by Rs 20,523.68 crore to Rs 5,91,486.10 crore.
HDFC Bank declined by Rs 11,983.68 crore to Rs 15,28,227.10 crore.
Market Context
The stock market snapped its six-day winning streak on Friday, dragging the Nifty near 25,700 intraday. This development occurred amid selling pressure across most sectors, with only metal and telecom stocks showing resilience.
At closing, the Sensex was down 344.52 points (0.41%) at 84,211.88, while the Nifty declined by 96.25 points (0.37%) to 25,795.15. Both BSE Midcap and Smallcap indices traded flat during the session.
