Seven of top 10 firms see Rs 2.31 lakh cr jump in valuation last week; Reliance biggest winner

The combined market valuation of seven of the top-10 valued firms surged by Rs 2.31 lakh crore (Rs 2,31,177.3 crore) in a holiday-shortened last week, with Reliance Industries emerging as the biggest gainer amid a largely optimistic trend in equities. While Reliance Industries, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Infosys and ITC emerged as the gainers in the top-10 pack, Tata Consultancy Services, Bajaj Finance and Hindustan Unilever faced losses in their valuation.

Last week, the BSE benchmark jumped 1,289.46 points or 1.62 per cent. Equity markets were closed on Thursday for ‘Maharashtra Day’.

The market valuation of Reliance Industries jumped Rs 1,64,959.62 crore to Rs 19,24,235.76 crore. Bharti Airtel’s valuation surged by Rs 20,755.67 crore to Rs 10,56,029.91 crore. ICICI Bank added Rs 19,381.9 crore to Rs 10,20,200.69 crore in its valuation.

The market capitalisation (mcap) of HDFC Bank rallied by Rs 11,514.78 crore to Rs 14,73,356.95 crore and that of Infosys zoomed Rs 10,902.31 crore to Rs 6,25,668.37 crore.

ITC’s mcap climbed Rs 2,502.82 crore to Rs 5,38,294.86 crore and that of State Bank of India went up by Rs 1,160.2 crore to Rs 7,14,014.23 crore.

However, the market valuation of Bajaj Finance eroded by Rs 15,470.5 crore to Rs 5,50,726.80 crore. The mcap of Hindustan Unilever declined by Rs 1,985.41 crore to Rs 5,45,845.29 crore and that of Tata Consultancy Services (TCS) dipped by Rs 1,284.42 crore to Rs 12,45,996.98 crore. Reliance Industries remained the most valued firm followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Hindustan Unilever and ITC.